Wright National Flood Insurance Services has launched a new residential private flood insurance offering.
Named FocusFlood, the new option is an extension of the company’s ResiFlood programme.
The non-admitted insurance option is delivered solely through agents of the insurer and will initially be offered in various US regions, namely Florida, Texas, New Jersey, South Carolina and Louisiana.
The product development group of the company has incorporated the latest developments in flood modelling technology and geospatial assessment along with methodical decision-making into the offering.
This approach offers precise and inexpensive primary flood coverage for owners of residential properties.
Delivering various coverages, FocusFlood offers the flexibility to fit the flood risk coverage of property owners.
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Merging third-party data and updated geocoding technology, the option asks a minimal number of application questions aiding agents to spend limited time on that part of the process.
Wright National Flood Insurance Services chief operating officer James Watje said: “FocusFlood is the newest residential private flood programme that we’re excited to initially offer in these first five states.
“It provides much-needed flexibility in the flood insurance market with an immediate increase in capacity in states with the greatest need for flood protection in the US.
“We are expanding the programme to reach a total of 19 states in the next few months.”