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Is flood an uninsurable risk?
When the National Flood Insurance Program (NFIP) was launched by FEMA in 1968, a long-standing industry position viewed the flood peril as uninsurable by the private market. This widely held and entrenched position was also reasonable due to poor or non-existent mapping tools and inefficient methods for measuring flood exposure. However, technology to assess and monitor flood risk continues to advance, positioning flood as a significant re/insurance growth opportunity.
Increasing challenges driving opportunity
Growth strategies for flood can be engineered behind a cutting edge suite of analytical tools. Aon Benfield is distinctly positioned to provide guidance to companies journeying through the largely untapped U.S. flood opportunity. We assist insurers to:
Flood analytics toolkit
Multi-model view for inland flood
Aon Benfield offers the most views for inland flood - an advantage that embraces the transparency of the Impact Forecasting model - while offering an alternative to the general reliance upon FEMA flood maps. Along with National Flood Services, our firm is ready to assist clients to develop a flood strategy that is customized to underwriting and balance sheet risk tolerances.
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Executive Managing Director, U.S.
Head of Global Catastrophe Management
Head of Analytics, APAC
Catastrophe Reserach Analyst, APAC
Catastrophe Analytics Director, LATAM
Inland Flood Model for the U.S.
About Impact Forecasting
Catastrophe Insights and Loss Figures
About National Flood Services