ST. PETERSBURG, Fla.,
Oct. 19, 2021 /PRNewswire/ -- Wright
National Flood Insurance Services has announced its expansion into
Georgia with the introduction of
an exclusive, admitted, stand-alone flood product: Wright
Residential Private Flood Insurance.
It is available to residential property owners beginning
October 19, 2021, and is underwritten
by Zurich American Insurance Company.
The first-of-a-kind, stand-alone product has previously been
launched in Florida, New Jersey, South
Carolina, Virginia,
California, Massachusetts and Maryland, with anticipated plans to expand to
additional states.
Thanks to its use of advanced technology, risk selection and
model-based rating methods, the Wright Residential Private Flood
Insurance program can pinpoint risk locations house by house and
thereby deliver a uniquely flexible coverage offering down to each
individual address. Other key features of this stand-alone flood
insurance product include:
- Admitted and approved by Georgia's Department of Insurance
- Quoted in less than 2 minutes, bound in less than 5
- No waiting period
- No elevation certificate required
- Higher dwelling limits (up to $1
million)
- Single deductible
- Automatic replacement cost on both dwelling and personal
property
- Loss of Use, Other Structures, and Building Ordinance
coverage
- Optional Resiliency coverage (rebuilding with flood-resistant
materials to decrease the impact of future floods)
Wright Residential Private Flood Insurance can be purchased to
protect homes against the risk of Georgia flooding since most property policies
do not cover the peril of flood. It will be sold exclusively by
Wright's partner agents, and it is filed and approved by the
Georgia Department of Insurance. It also has the financial security
of Zurich's AM
Besti A+ (Superior) XV rating.
"Properties in Georgia are
unique and individualized," said James R.
Watje, senior vice president of private flood at Wright
National Flood Insurance Services. "From the beaches to the
mountains, each Georgia structure
has specific complex exposures and characteristics that make the
peril of flood varied and technically difficult to measure and
mitigate. We are offering flood coverage that is not
one-size-fits-all. Each home we cover is as unique as the people
living in it. That's why the Wright Residential Private Flood
Insurance product was designed with the flexibility to customize
flood protection to the individual needs of each Georgia property owner."
"Many homeowners policies don't cover flooding," Watje said.
"Considering that 98 percent of counties in the United States have been impacted by
flooding events, it's vitally important to be prepared."
Greg Massey, Zurich North
America's head of programs, stresses that this flood insurance
program provides multiple choices for homeowners, and it's easy to
understand.
"With changing weather patterns and growing storm intensity
across the country, the vast majority of homes are potentially at
risk and most property owners need to consider the protection
provided by flood insurance," Massey said. "This innovative product
offering expands coverage choices and helps bring simplicity to
this area of the flood insurance marketplace."
To learn more about private flood insurance, find a Wright
agent, or to become a Wright partner agency, please visit
www.wrightflood.com.
About Wright National Flood Insurance Services LLC
Wright
National Flood Insurance Services LLC (WNFIS) offers primary and
excess flood products in numerous markets across the United States and are building out our
growing Flood Insurance Marketplace. The WNFIS portfolio includes
admitted flood products and as a Coverholder at Lloyd's, excess and surplus lines products
with AM Best ratings of A- (Excellent) or higher. Contact
Wright National Flood Insurance Services LLC at (866) 373-5663 for
more information.
About Zurich North America
Zurich North
America is one of the largest providers of insurance solutions
and services to businesses and individuals. Our customers represent
industries ranging from agriculture to construction and include
more than 90 percent of the Fortune 500. We've backed the building
of some of the most recognizable structures in North America –
from the Hoover Dam to Madison Square Garden to the
Confederation Bridge. Our North American, LEED Platinum®
headquarters is in the Chicago area. We employ
approximately 9,000 people in North America and have
offices throughout the U.S. and Canada. Further information is
available at www.zurichna.com.
Questions? Agents in Georgia,
please contact:
Lisa Statton
at Lisa.Statton@weareflood.com or (727) 519-4451.
Non-resident Georgia agents,
please contact your
Regional Sales Manager or call Flood Marketing at (866)
373-5663.
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i A.M.
Best's ratings are under continuous review and subject to change
and/or affirmation. For the latest Best's Ratings and Best's
Company Reports (which include Best's Ratings), visit the A.M. Best
website at www.ambest.com.
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SOURCE Wright National Flood Insurance Services, LLC