Opportunities for profitability and growth abound in the flood market
The unpredictability of extreme weather events coupled with the expanding footprint of flood risk creates a challenge when developing solutions to address flood risk.
However, the market opportunity is ripe for insurers looking to innovate. And Verisk is here to help.
Personal Property
Tap into a $40 billion market!
The gap in private flood insurance protection represents up to a $40 billion potential new market for private insurers in the United States.*
Millions of property owners don’t realize they have a coverage gap exposing them to crippling financial loss. You can be the insurer to close that gap—and discover a fresh path to growth and profit while offering vital protection to new and existing customers. Learn more
*Source: Marsh & McLennan Companies’ Global Risk Center.
Learn more about Flood Insurance Solutions for Personal Property
Commercial Property
Meet the needs of today's businesses
Recovering from a flood can be a long and tortuous experience for businesses. Insufficient coverage, changing building codes, and closures to accommodate critical repairs can compound the burden as a flooded business struggles to resume operations.
Bring a new level of refinement to your commercial flood program and cover a range of risks with better data and analytic tools ─ granular data, real-time analytics on severe weather, flood-extent mapping, and probabilistic inland flood modeling.
Learn more about Flood Insurance Solutions for Commercial Property
Data, risk modeling have caught up with flood underwriting
Marc Treacy, managing director, flood insurance, ISO, spoke to A.M. Best about how advances in risk modeling and elevation mapping bring flood underwriting within reach of many insurers.
Insurers hope to see the NFIP program reformed and the flood insurance market revitalized. Before that happens, they'll need to educate customers.
Why climate change and hurricane stalls mean flooding rain
For the second time in the last two years, hurricane precipitation in the U.S. was exacerbated by incredibly slow movement.
Fallacies about flood insurance coverage can lead to dissatisfied customers and potential lawsuits.
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