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Key Takeaways Flooding is the most common and costly natural disaster in the United States, with an estimated 83% of flood losses uninsured. Recurring NFIP disruptions create operational challenges and reinforce the need to evaluate private Flood Insurance alternatives. Private market capacity across Primary and Excess Flood Insurance has expanded, offering higher limits and greater structural flexibility. Parametric Flood solutions provide liquidity tied…

Advanced modeling tools are bringing greater precision to Flood Insurance underwriting. In this clip from our recent Flood Insurance webinar, Jacob Martin, Underwriting Director, Flood, Burns & Wilcox, Charlotte, North Carolina, explains how enhanced analytics support more accurate risk selection, improved pricing, and stronger coverage solutions for complex Flood exposures. https://vimeo.com/1164742228/925f06607e?share=copy&fl=sv&fe=ci

Flooding poses a significant risk for residential and commercial properties, even outside designated flood zones. With recurring National Flood Insurance Program disruptions, private Flood Insurance solutions are more important than ever. Now available on demand, this webinar features experts from the Burns & Wilcox Flood Practice Group and Floodbase, the leading AI platform for monitoring and insuring Flood risk, as they examine Primary, Excess,…

The Flood Insurance market is steadily evolving, with technology playing a key role in how risks are assessed, priced, and managed. Advanced modeling tools, data analytics and digital platforms are making it easier to identify flood exposures and offer more customized solutions — helping both brokers and clients navigate an increasingly complex landscape. In this Expert Q&A, Jacob​​​​ Martin, Manager,…

Inside This Article: Many communities throughout the central United States were submerged after historic rainfall led to life-threatening flash floods. The Ohio River reached its highest crest since 1997, flooding storefronts in downtown Louisville, Kentucky. Many homeowners do not have insurance coverage for flood damage because it is excluded under standard Homeowners Insurance policies. Private Flood Insurance policies can…

Communities from Florida to the Northeast are recovering from the effects of Hurricane Debby, which brought flooding rain and multiple tornadoes from Florida to the Northeast. Earlier this year, forecasts predicted an above average, or even record-breaking number of storms in 2024, due in part to unusually high ocean temperatures and the effects of La Niña, NBC News reported. For…

As we move into the remainder of 2024, the Flood Insurance market is awash with excess capacity and is seeing stabilized reinsurance rates—based in part on a modest 2023 storm season. This is a different story from this time a year ago when reinsurance rates had increased by up to and more than 50 percent. While rates have largely been…

During this webinar, our own Jacob Martin broke down the different types of modeling utilized in the Flood Insurance Market. Watch a highlight from the discussion below. https://vimeo.com/944130158/461a0a7f4a

During this webinar, we joined our award-winning Flood Practice Group and expert panel for a look into the current state of the flood market along with strategies for success as brokers navigate the current environment. Watch now below. https://vimeo.com/942127721/48a12ed6c8  

A growing number of homes covered by the National Flood Insurance Program are experiencing severe and repetitive flood losses, according to data from the Natural Resources Defense Council. The number of homes categorized as severe repetitive loss properties — meaning they have either had four or more separate building or contents claims of over $5,000, or two or more separate…

Even before Hurricane Ian punctuated another active storm season in late 2022, Flood Insurance was amid a hard market. The hard market has been a result of several factors, including post-pandemic inflationary pressures, causing carriers to reduce their catastrophic exposure or exit the market altogether. One of the areas most affected by inflation has been reconstruction valuation costs, causing London…

During this webinar, Our experts discuss the current state of the Flood Insurance Market for both residential and commercial properties. They also review flood modeling, parametric coverage, tips on how brokers and agents can approach the challenges within this space, and more. https://vimeo.com/825984690/7c3272a447?share=copy