Neptune secures Transverse capacity for alt flood programme
28-04-2021
19-04-2021
Neptune Flood, the AI-driven flood insurance provider, has unveiled its latest capacity programme, sponsored by Transverse Insurance Group and backed by a panel of global reinsurers.
The $30 million premium capacity programme allows Neptune to meet growing demand for its flood insurance alternative to the government backed NFIP programme. It was placed through Acrisure Re, the carrier formerly Beach & Associates. Neptune policies placed with the programme will carry Transverse’s A- rating from AM Best.
The programme will look to protect approximately $10 billion in home and business value from the catastrophic risk of flooding. Hurricane season begins on May 15, with the record number of storms recorded in 2020 putting the market on high alert.