Flood is no longer an “untouchable” risk for private insurers. In fact, data suggests insurers see it as a growing area of opportunity. That’s good news for homeowners who understand the evolving nature of the peril.
For decades, FEMA’s National Flood Insurance Program (NFIP) was practically the only available option for homeowners to obtain flood coverage. Improved data, analysis, and modeling have helped drive increased private-sector interest in flood-risk transfer and mitigation.