US-based personal flood insurance coverage supplier Neptune Flood has introduced the growth of its protection into the state of Kentucky as a part of growth plan.
With the transfer, Neptune’s residential, business, and residential condominium constructing affiliation coverage (RCBAP) insurance coverage merchandise might be obtainable within the Bluegrass State.
With this launch, the corporate at the moment has operations in 49 states and Washington, DC.
Neptune famous that it presents increased limits and broader protection than the Nationwide Flood Insurance coverage Program (NFIP), with as much as $4m in residential and business protection and $10m in RCBAP protection.
These choices are mentioned to permit property homeowners to consolidate their flood safety underneath one complete coverage.
The insurtech firm added that its non-obligatory coverages similar to non permanent dwelling bills and enterprise interruption are designed to supply enhanced safety, addressing gaps within the NFIP’s protection.
Entry probably the most complete Firm Profiles
available on the market, powered by GlobalData. Save hours of analysis. Acquire aggressive edge.
Firm Profile – free
pattern
Thanks!
Your obtain e-mail will arrive shortly
We’re assured in regards to the
distinctive
high quality of our Firm Profiles. Nevertheless, we wish you to take advantage of
helpful
determination for what you are promoting, so we provide a free pattern which you could obtain by
submitting the under type
By GlobalData
Neptune, which has amassed a buyer base of 175,000, is accessible by way of a community of brokers and its on-line platform.
Neptune president and CEO Trevor Burgess mentioned: “We couldn’t be extra excited to make protection obtainable in Kentucky. Neptune is now obtainable within the contiguous US and Hawaii, with apologies to Alaska, letting brokers and prospects defend property in opposition to flood danger.
“With lower than 1% of houses in Kentucky having a present NFIP flood coverage (simply 18,000 houses), our growth into the state couldn’t come sooner.”
Neptune chief buyer officer Jean-Luc Eckstein mentioned: “In response to Danger Issue by First Road Basis, over 300,000 houses in Kentucky have a larger than 25% likelihood of flooding within the subsequent 30 years.
“That’s a whole lot of 1000’s of houses left unprotected that can profit from Neptune. Our group is able to onboard Kentucky brokers and get prospects the protection they want.”
In Might 2023, Neptune raised undisclosed sum in funding from personal fairness buyers Bregal Sagemount and FTV Capital.
Supply:
https://www.prnewswire.com/news-releases/neptune-flood-expands-coverage-into-kentucky-302023387.html
