Flood Protection Gap

Flood is one of the most destructive natural perils in the U.S. -- and one of the most underinsured.

The protection gap between total flood losses and insured flood losses is substantial. Many homeowners assume their standard property policy covers flood damage, only to discover the reality after a catastrophic event.

Private flood insurance capacity has grown meaningfully over the past several years as carriers and reinsurers develop more sophisticated flood models. This growth is helping fill some of the gap historically occupied only by the NFIP.

Industry and government have a shared interest in solving this problem. Broader flood insurance penetration reduces post-disaster federal spending and speeds community recovery.

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