Wright Flood takes pride in user-friendly technology, exceptional claims reputation, and providing a high level of service. It is widely recognized for its experience, claims response and long-standing commitment to partner with agents and policyholders, especially at the time of a flood loss. Wright Flood has more than 40 years of experience exclusively in the flood insurance industry. Together, Wright and UPC Insurance representatives will be in contact with their agents. Best-rated for financial strength as A- (Excellent). For retail agents accessing flood coverage through UPC Insurance, there will be minimal change in the process to continue to provide NFIP coverage for policyholders. All new policies and renewals will be issued by Wright National Flood Insurance Company, which is A.M. Wright Flood will service, administer, and issue flood coverage under the National Flood Insurance Program ("NFIP") for UPC Insurance policyholders and agents.īeginning in the third quarter of 2022, Wright Flood will manage UPC Insurance's NFIP flood placements. The transaction is expected to close on June 30, 2022, subject to approval by the Federal Emergency Management Agency ("FEMA"). PETERSBURG, Fla., J/PRNewswire/ - Wright National Flood Insurance Company, the nation's leading provider of federal flood insurance, has announced an agreement to acquire the flood insurance policy book from United Property & Casualty Insurance Company ("UPC Insurance"). Considering that flooding events have impacted 99 percent of counties in the United States, it’s vitally important to be prepared.Wright Flood will service, administer and issue NFIP coverage for UPC policyholders, agents Each home we cover is as unique as the people living in it. “We are offering flood coverage that is not one-size-fits-all. “Many homeowners policies don’t cover flooding,” Watje said. When temperatures increase in the spring, the potential for flooding rises exponentially.” “That’s especially true in Illinois, where the frequency and intensity of these heavy rain events are also increasing. Additionally, there is a river flooding and snowmelt risk in these regions. “Increased frequency of flooding events is becoming a dangerous trend across the Midwest,” said James R. Watje, senior vice president of private flood at Wright National Flood Insurance Services. Loss of Use and Building Ordinance coverages.Automatic replacement cost on both dwelling and personal property.Higher dwelling limits (up to $1 million).Zurich policy is an admitted form approved by the IDOI.Other key features of this first-of-its-kind, stand-alone flood insurance include: Wright’s ResiFlood product is offered in 12 states, with expansion plans to introduce admitted private flood to homeowners in additional states across the county.ĭue to advanced technology, risk selection and model-based rating methods, the ResiFlood program can pinpoint risk locations house by house to deliver a highly flexible coverage offering. It also has the financial security of Zurich’s AM Best i A+ (Superior) XV rating.
It will be sold exclusively by Wright’s partner agents beginning April 4, 2023, and it is filed and approved by the Illinois Department of Insurance.
Wright Residential Private Flood Insurance can be purchased to protect homes against the risk of Illinois flooding since most property policies do not cover the peril of flood. In partnership with the Illinois Department of Insurance (IDOI), Wright Flood is introducing admitted private flood insurance to Illinois homeowners. Wright National Flood Insurance Services has announced its entrance into Illinois by introducing an admitted, stand-alone private flood insurance product as the next state in the continued expansion of the company’s ResiFlood program. First-of-its-kind, residential private flood coverage available beginning April 4
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