Neptune Flood hits premium milestone

Neptune Flood, the nation’s largest personal flood insurer, has introduced that it has exceeded $200 million of premium in pressure. The insurer has additionally added seven members to its newly fashioned advisory board.

Crossing the $200 million threshold brings Neptune to greater than 5% of the scale of the Nationwide Flood Insurance coverage Program, making Neptune the first different to the NFIP, the corporate mentioned.

Neptune Flood CEO Trevor Burgess mentioned the corporate’s progress additionally spurred the formation of the advisory board.

“Rising in scale highlighted the necessity for sage recommendation from a bunch of main specialists within the insurance coverage business,” Burgess mentioned. “My government group is extremely grateful that this group of seven leaders has agreed to assist us in our journey to be the very best flood insurance coverage firm for shoppers, brokers, and our risk-taking companions.”

The members of the advisory board are:

• Jim Albert, co-founder of Neptune. Albert served as Neptune’s CEO by means of 2019 and as chairman from 2020 to early 2023
• Brad Emmons, former CEO of Orchid. Emmons is an energetic investor and advisor to MGAs, MGUs, claims and insurtech companies
• Invoice Martin, who heads up Plymouth Rock’s residence insurance coverage enterprise. A 37-year business veteran, Martin is a co-founder of Neptune and a former board member of insurance coverage business security organizations
• David Paulsen, president of MS Transverse, a division of Mitsui Sumitomo Insurance coverage and one of many world’s largest insurance coverage firms
• Jessica Snyder, president of US insurance coverage for Argo Group. Snyder beforehand served as president and CEO of GuideOne Insurance coverage. Previous to that, she headed up the business and specialty companies at State Auto Insurance coverage. She has additionally served as chief working officer and chief monetary officer at Rockhill Insurance coverage Group and CFO at Residents Property Insurance coverage Firm
• Keith Wolfe, former president of US P&C for Swiss Re. Wolfe additionally serves as an advisor or board director for a number of different insurance-related firms
• Roy Wright, president and CEO of the Insurance coverage Institute for Enterprise & Residence Security (IBHS), of which Neptune Flood is a member. Previous to becoming a member of IBHS, Wright served as chief government of the NFIP

Learn subsequent: Non-public flood insurers seize market progress amid NFIP pricing challenges

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