Wright National Flood Insurance Services introduced FocusFlood, the company’s newest product and an extension of its popular ResiFlood program, into Florida, Texas, New Jersey, South Carolina and Louisiana. Written on a non-admitted basis, FocusFlood is the latest proprietary private flood …
Hurricane Ian may result in one of the largest losses in the history of the National Flood Insurance Program and add to its current $20.5 billion debt. According to a market segment report from AM Best, the projected range of …
SageSure announced the introduction of a new admitted, proprietary residential flood program initially available in Texas. SageSure will distribute flood insurance through its network of contracted producers while also handling all servicing and claims. The company said the program will …
A new report estimates that U.S. businesses could spend about $13.5 billion in 2022 to repair or replace flood-damaged commercial buildings. The same report finds that businesses could lose more than 3.1 million days of operation from flooding next year. …
Digital flood insurance provider Neptune Flood has acquired Jumpstart Insurance Solutions, a parametric insurtech broker that offers parametric earthquake policies. Terms were not disclosed. Jumpstart, a licensed surplus lines insurance broker selling online and using Lloyd’s capacity, began offering earthquake …
The country’s flood insurance market is slowly transitioning toward private insurers providing additional options to the federal government’s program for those seeking coverage, according to a new AM Best report. But private sector carriers are being selective, tending to avoid …
HCI Group, Inc. announced that its insurtech subsidiary, TypTap Insurance Group, Inc., a Florida-based writer of private market homeowners and flood insurance, has confidentially submitted a draft registration statement for a proposed initial public offering with the Securities and Exchange …
Milliman Appleseed, the new advisory and rating organization of actuarial firm Milliman, is offering insurers a simplified product developed by Swiss Re that makes it easier for insurers to enter the flood insurance market. The product is designed to provide …
There’s something fun about contemplating flood insurance while the ground outside the office is so saturated that it’s like walking on sponges. No. We aren’t having a flood event and even if we were, there’s a good chance that most …
Florida has 90,000 private flood insurance policies in force now– a 300% increase since passing legislation to encourage private insurers to offer the coverage in 2014, according to Florida Insurance Commissioner David Altmaier. Noting there are 5 million properties in …
