Insurers are gun-shy about writing flood policies, and who can blame them? With faulty prediction models, seemingly ever-changing target flood zones and a track record of unpredictable claims, many insurers look at flood as a risk they’re not willing to take.

There are well-known flood areas typically impacted by hurricane storm surges or historical rains. But flood can happen anywhere, not just in major coastal sites like Florida or Texas. With The Biggert-Waters Act allowing mortgage lenders to accept qualified private flood insurance, many insurers are trying to determine whether the risk of offering flood is worth the potential reward.

Member Only Content

To continue reading, purchase this article or become a member.

*Already have an account? Click here to login