Every major flooding event reveals the same uncomfortable truth: most of the losses are uninsured, and most of those property owners assumed they were not at risk.
The flood insurance gap -- the difference between economic flood losses and insured flood losses -- remains persistently large despite years of attention from the industry and government programs. Awareness is low, NFIP participation outside high-risk zones is poor, and private flood options remain underutilized.
The private flood market has grown significantly since 2017, bringing more flexible products, broader coverage, and competitive pricing to segments the NFIP serves poorly. But distribution remains a bottleneck -- most homeowners do not seek flood coverage unless required by a mortgage lender.
Closing the flood protection gap requires embedding flood coverage conversations into every property insurance transaction and making private market options accessible through channels consumers already trust.
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