FloodFlash announced its expansion to cover all mainland US locations.
The sensor-enabled parametric flood insurer provides flood coverage in excess of the National Flood Insurance Program (NFIP) where the private markets are unable to quote, particularly in real estate, sports and entertainment, manufacturing, energy and healthcare lines.
In January, the insurtech announced an expansion to 10 states in addition to the launch states of Florida, Texas, California, Virginia, and Louisiana. As a result of a binder expansion with Munich Re Specialty – Global Markets, Syndicate reacting to broker demand, quotes can now be obtained anywhere in the mainland US.
This announcement follows other program launches by FloodFlash such as programs for dealer lot businesses, golf and country club clients, as well as for clients seeking parametric insurance for a business interruption solution.
“The combination of hard market pressures and a relatively benign 2023 hurricane season, has seen many coastal clients retaining record-high levels of storm and surge risk,” said FloodFlash US Commercial Director, Rich Coyle. “Carrying forward those retention levels will leave many insureds watching on nervously as we move through hurricane season. “For the businesses that don’t have the limits they need, the best time to develop physical and financial resilience to hurricanes is right now.”