Top Private Flood Carriers, High Tides, Storm Surges & More


As I watch the each day monitoring of Hurricane Florence and anticipate its potential destruction, I’m compelled to revisit this June weblog publish and share it with you as soon as once more.

Within the phrases of Peter Criss, “I can’t cease the rain” … and the place there’s rain, there may very well be flooding for a lot of extra of us than conventional FEMA flood maps point out. A startling new research from College of Bristol illustrates the discrepancy:

“The research—which integrates new maps from the Environmental Safety Company that extra exactly estimate the place folks dwell now and the place future inhabitants development is predicted—predicts that underneath potential inhabitants development and growth projections, greater than 60 million People could also be weak to a 100-year flood by 2050.”

With an uptick in exercise throughout the non-public flood market, coupled with the catastrophic occasions of 2017, I’ve acquired numerous informative studies to assessment with you – together with one I’ve drafted, all with intent to help your advertising efforts as you show the various aspects of storm injury to prospects and shoppers.

Prime Non-public Flood Insurers 2017 Market Examine – In 2016, line merchandise 2.5 was added to the statutory monetary statements, for P/C carriers, to trace non-public flood insurance coverage direct premiums written. With 2 years of reporting accessible for evaluation, I’ve compiled a concise, 10-page temporary on the highest carriers and rising geographic markets. This report provides you insights into the carriers coming into each the residential and business markets. Sneak preview of web page 6:

2017 Hurricane Season: Evaluation and Evaluation – Karen Clark & Firm gives in depth post-event evaluation of the key hurricanes of 2017. Whether or not your focus is business or residential, the element on this report will help you in conveying the specifics round property injury from these storms as you focus on the long run prospects together with your prospects. Detailed evaluation of every storm provides attention-grabbing insights into the injury precipitated to buildings particular to age, development and placement of buildings. Examples resembling this picture from web page 12 present particulars of why buildings failed underneath the pressure of every storm.

2017 State of U.S. Excessive Tide Flooding – Nationwide Oceanic and Atmospheric Administration (NOAA) gives predictions for 2018/19 excessive tide flooding, full with knowledge and graphics. To study that prime tides are, on common, 60% greater than in 2000 throughout US coastlines provides yet one more statistic in help of correct threat mitigation. As one in every of our extra technical paper, I’d direct you to pages 6-Eight, which supply 2018 predictions for top tide flooding alongside the US shoreline.

2018 CoreLogic Storm Surge Report Knowledge Abstract – Our sponsor, CoreLogic, has supplied their full Storm Surge report by way of an electronic mail hyperlink to those that obtain this Knowledge Abstract. The total report gives an annual analysis of the quantity and related reconstruction value worth (RCV) of single-family residential properties within the U.S. which are weak to storm surge from the Gulf of Mexico and Atlantic basins. In case your market consists of the 19 states which border the Gulf and Atlantic Coasts, this abstract may be very insightful. Web page 2 gives the entire in danger properties per state for the highest 19 states impacted by storm surge and web page three provides reconstructive values by state and inside main metropolitan areas in danger (web page four). Lastly, predictions for the 2018 hurricane season from CoreLogic and different respected establishments could be discovered on web page 6.

As famous in my Prime Non-public Flood Insurers 2017 Market Examine the non-public flood market, direct and surplus carriers mixed, expanded to 22% of the flood insurance coverage market in 2017, doubling it’s presence. The expansion far exceeded that of NFIP and the chance extends far past that mandated by flood maps and regulation. There’s nice alternative to coach property homeowners about their current protection, what choices can be found for flood protection and why it’s as important to insure towards flood as fireplace – whether or not dwelling close to streams and ponds, rivers and lakes or coastal areas.

We are going to proceed to host studies on climate and flood to help you in your skilled efforts. To obtain weekly updates, subscribe to our e-newsletter for the newest webinars, studies and whitepapers.

Joyful studying – Pam Simpson


Wish to keep updated?

Get the newest insurance coverage information
despatched straight to your inbox.


Please enter your comment!
Please enter your name here