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Arthur D. Little

Arthur D. Little has been at the forefront of innovation since 1886. We are an acknowledged thought leader in linking strategy, innovation and transformation in technology-intensive and converging industries. We enable our clients to build innovation capabilities and transform their organizations. ADL is present in the most important business centers around the world. We are proud to serve most of the Fortune 1000 companies, in addition to other leading firms and public sector organizations. For further information, please visit www.adlittle.com

Verisk’s ISO Personal Lines Program Targets $40 Billion Private Flood Insurance Market

In Action Summary

Verisk has launched a new flood insurance program which enables insurers to enter the private flood insurance market by offering broad and flexible coverage options in a template similar to the standard homeowners policy currently available to the consumers as the National Flood Insurance Program (NFIP).

The program offers a fresh look at the traditional flood territories by means of a rating manual developed by AIR Worldwide and extensive analysis of ISO and NFIP data. The manual is comprehensive and  covers every address in the lower 48 states.

In January 2018, the Insurance Services Office introduced a new residential flood insurance support program

Marc Treacy, managing director of flood at ISO has said of the program: “This program presents a new opportunity for insurers to grow their homeowners book by providing robust flood risk protection to an underserved segment and fresh coverage options for existing customers.”

 

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