Ask the Expert Q&A: Flood Insurance
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
Flood
Flooding is the most common natural disaster worldwide, with over 40% of all disasters involving flooding. Climate change has also exacerbated the frequency and intensity of flooding, with over 30% of events occurring outside of designated high-frequency flood zones in the past 10 years. Despite its recurring nature and increased severity, flood exposure represents the largest segment of underinsured and uninsured risk within the United States.
The Burns & Wilcox Flood Practice Group offers a wide array of customized Flood Insurance products across some of the most expansive Private Flood markets in the United States—including exclusive product offerings through our offices nationwide and direct-to-agent quoting with Hiscox FloodPlus, through our IssueQuick platform.
Our innovative solutions provide Flood coverage for homes and businesses across numerous scenarios and layers. Reinforced by strong carrier partnerships and aligned with cutting-edge modeling technology, Burns & Wilcox can provide increased insights into flood exposures in various risk locations.
The Burns & Wilcox Flood Practice Group offers a wide array of customized Flood Insurance products across some of the most expansive Private Flood markets in the United States—including exclusive product offerings through our offices nationwide and direct-to-agent quoting with Hiscox FloodPlus, through our IssueQuick platform.
Our innovative solutions provide Flood coverage for homes and businesses across numerous scenarios and layers. Reinforced by strong carrier partnerships and aligned with cutting-edge modeling technology, Burns & Wilcox can provide increased insights into flood exposures in various risk locations.
EDUCATE YOUR CLIENTS
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Sales SheetFlood Practice Group
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Sales Sheet
Parametric Flood Coverage
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Sales Sheet
Hiscox FloodPlus
INTEL FOR BROKERS
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Market OverviewPreparing for Storms: Private Flood Insurance a Necessity
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Expert Q&AFlood Insurance Q&A
Recent Flood Wins |
See More |
$82,500
High-Value Residential Property-Excess Flood in South Carolina
$47,409
Luxury Hotel Building-Parametric Flood in South Carolina
$38,806
Secondary Residence-Excess Flood in Florida
$38,750
Rental Dwelling-Excess Flood in Florida
Areas Of Specialty
Residential Dwellings
- Primary & Excess Flood
- All Occupancies with no surcharge for Occupancy Type
- VacantÂ
- Course of Construction
- CBRA/CBRS Flood Zones Eligible
- Coverage Enhancements for Valuation, Basements, Pools, and Other Structures Available
- Multi-location Scheduling
- Direct & Indirect Loss Coverages Available
- Customizable Attachments
Commercial Buildings
- Primary & Excess Flood
- Direct & Indirect Loss Coverages
- Multi-location Scheduling
- Replacement Cost Valuation Available
Habitational Buildings
- Primary & Excess Flood
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- Apartments
- Hotels/Motels
- Direct & Indirect Loss Coverages
- Multi-location Scheduling
- Replacement Cost Valuation Available
Condo Units
- Primary & Excess Flood
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- Units in the Name of Individual or LLC
Condo Associations
- Primary & Excess Flood
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- Customizable attachments
- Buildings in the name of a Condo Association
Other Detached Residential Structures
- Primary & Excess Flood
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- Endorsement or Stand-alone options available
- Detached, Enclosed Buildings such as gyms, studios, offices on a residential property
Parametric Flood
- Commercial Exposure and Rental Properties
- Non-traditional risk, such as Open Car Lots and Golf Courses
- Pre-selected parametric sensor trigger depths and risk limits allow for no adjustment process
- Claims payment direct to insured in less than a week
- Payouts can be utilized for anything related to the risk location, including building, contents, and loss of income
- Excess or Wrap-Around Coverage to fill coverage gaps and buy-down large deductibles
Hiscox FloodPlus Program
- Primary and Excess Flood coverage for residential dwellings
- Primary and Excess Flood coverage for commercial buildings
- Enhanced Flood API
- Coverage for leaseholder’s improvements and betterments
- Broader policy language compared to NFIP/standard market, including more coverage for enclosures and basements
- Loss of use coverage available, including living expenses, rental income, and commercial business income
- Get started on our IssueQuick platform.
Available Products
- Private Primary Flood (AM Best A+ Rated Paper)
- Excess Flood (Lloyd’s and Domestic)
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Parametric Flood
Notice
Product Documents
Featured Expert
Featured Expert
Jacob Martin
Manager, Flood
- Flood
Jacob has 8 years of experience in the underwriting field. He started his career in 2014 with Burns & Wilcox in commercial underwriting for general liability and property insurance. He…
Read MoreBrad Turner
Vice President
National Product Manager, Flood
National Product Manager, Flood
- Flood
With 10 years industry experience, Brad has specialized in CAT exposed property, including wind and flood. Brad currently serves as Vice President, National Product Manager, Flood in Morehead City, North…
Read More
Your Local Team |
Underwriter, Personal Insurance
Senior Underwriter, Personal Insurance
Vice President
National Product Leader, Private Client
National Product Leader, Private Client
Vice President
National Product Manager, Flood
National Product Manager, Flood
Related Intel |
See All |
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Historic Flooding Exposes Homeowners Insurance Gaps
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
Recent Flood Wins
$82,500
High-Value Residential Property-Excess Flood in South Carolina
$47,409
Luxury Hotel Building-Parametric Flood in South Carolina
$38,806
Secondary Residence-Excess Flood in Florida
$38,750
Rental Dwelling-Excess Flood in Florida
$32,925
Primary Residence-Excess Flood in California
$32,306
Secondary Residence-Excess Flood in California
$22,500
Commercial Office Building-Primary Flood in Georgia
$17,500
Commercial Office Building-Primary Flood in Pennsylvania
$16,100
Primary Residence-Primary Flood in New York
$15,000
Secondary Residence-Primary Flood in South Carolina
$13,225
Primary Residence-Primary Flood in Delaware
$11,893
Large Commercial Office Building-Parametric Flood in Louisiana
Eligibility Guidelines
Below are the eligibility guidelines for online binding and issuing Cyber Liability:
– Revenue up to $15M accepted
– 138 Industries Accepted
– Excluded Industries include: adult content, auction sites, data processing, debt collection, direct marketing franchisees, healthcare aggregators, online gambling, payment processors, pos technology, search engines and social media.
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Product Guidelines
Honoring a True Pioneer
A BURNSÂ 
WILCOX ASSESSMENT
Article Title
April 16, 2020
Written by
Denis Brady
PRESIDENT, BURNS & WILCOX BROKERAGE
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“Sed ut perspiciatis unde omnis iste natus error sit voluptatem accusantium doloremque laudantium, totam rem aperiam, eaque ipsa quae ab illo inventore veritatis et quasi architecto beatae vitae dicta sunt explicabo. Nemo enim ipsam voluptatem quia voluptas sit aspernatur aut odit aut fugit, sed quia consequuntur magni dolores eos qui ratione voluptatem sequi nesciunt. Neque porro quisquam est, qui dolorem ipsum quia dolor sit amet, consectetur, adipisci velit, sed quia non numquam eius modi tempora incidunt ut labore et dolore magnam aliquam quaerat voluptatem. Ut enim ad minima veniam, quis nostrum exercitationem ullam corporis suscipit laboriosam, nisi ut aliquid ex ea commodi consequatur? Quis autem vel eum iure reprehenderit qui in ea voluptate velit esse quam nihil molestiae consequatur, vel illum qui dolorem eum fugiat quo voluptas nulla pariatur?”
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State of the Flood Market
A BURNSÂ WILCOX ASSESSMENT