Since June 1st marked the beginning of the Atlantic Hurricane Season that will run through November 30th, we look at the predictions and focus on how to improve how you insure your clients’ hurricane and flood risk.
This hurricane season has already gotten off to an unusual start. While weather experts predicted near-normal Atlantic hurricane season having less storms than average, Tropical Storm Colin has already set a new record for the earliest third named storm in the Atlantic basin only 6 days into June. According to the National Hurricane Center, getting to the “C” storm in the Atlantic name list in June is exceedingly rare and it is the earliest that a third named storm has ever formed in the Atlantic basin.
Colin made landfall in Florida on Monday night. Some parts of Florida picked up as much as 10 inches of rain, and much of the Tampa Bay area still had standing water as of this morning, according to the National Weather Service. The National Hurricane Center declared Colin as “post-tropical” as it moves away from land over the western Atlantic Ocean.
For those of your clients with buildings in areas susceptible to damage from wind and/or storm surge resulting from tropical storms and hurricanes, their named windstorm and flood coverages are extremely important components of their risk management and insurance program. Do not wait for a named windstorm event to bring to your attention deficiencies in the named windstorm or flood insurance coverage you have placed for your clients. Take advantage of our proprietary private market flood insurance program that applies to all flood zone classifications (A, B, C, D and X zones) and all asset classes of commercial real estate. It is designed exclusively for those who fit the following criteria:
- Have multiple locations insured with NFIP flood insurance;
- Have flood coverage in their master property insurance program;
- Have a minimum of $25,000 in total NFIP premiums;
- Want a more efficient way to buy primary layer flood insurance;
- Want better primary layer coverage than NFIP flood insurance.
Agency Flood Resources has substantial expertise assessing and insuring hurricane and flood risk, so feel free to contact us with any questions you may have regarding our private market flood program or other private market flood insurance programs available in the rapidly developing private flood marketplace.