West Palm Beach, FL (PRWEB) September 23, 2004 -
Flood Zone Correction, Inc. (FZC), the nationÂs first flood zone correction company, announces a unique alliance with Willis Group (NYSE: WSH), one of three global insurance brokers. For a two-year term, Flood Zone Correction, Inc., will provide flood zone correction services for U.S. real estate assets owned and operated by Willis clients.
Across the country, property owners purchase more than 4.4 million flood insurance policies through the National Flood Insurance Program (NFIP) at a cost of nearly $2 billion every year. Flood insurance requirements imposed by mortgage companies are the basis for the vast majority of these policies and premiums. The process of flood zone correction increases property values of residential and commercial buildings by eliminating unwarranted flood insurance requirements to reduce insurance costs. For commercial real estate owners, successful flood zone correction delivers up to a 100% annual return on investment and up to a 1,600% return on investment at disposition or refinance by capitalizing the savings (new earnings).
ÂThe Willis alliance is an important milestone in Flood Zone Correction, Inc.Âs growth and we are excited to offer our proactive risk management service to their clients,Â states Dan Freudenthal, president of Flood Zone Correction, Inc. He continues, ÂThe partnership is another example of Willis' leadership in the risk management and insurance brokerage industry. Together, we will help Willis clients to more clearly define the true flood risk of their facilities, to correct flood zone classifications that are wrong, to reduce insurance premiums and to reduce exposure to flood losses.Â
Brad Hart, Senior Vice President, Willis Risk Solutions, said, ÂOur partnership with Flood Zone Correction, Inc., allows Willis to offer our clients an innovative opportunity to better understand their flood risk to ensure that they have the most appropriate coverage or risk mitigation techniques in place. The alliance not only presents significant cost savings for our clients but also has the added benefit of increasing their net worth with the potential of increasing their real estate values.
Willis Group Holdings Limited is a leading global insurance broker, developing and delivering professional insurance, reinsurance, risk management, financial and human resource consulting and actuarial services to corporations, public entities and institutions around the world. With over 300 offices in some 80 countries, its global team of 14,500 Associates serves clients in some 180 countries. Additional information on Willis may be found on its web site: http://www.willis.com.
Flood Zone Correction, Inc., a Florida corporation headquartered in West Palm Beach, is the leading advocate for consumers and commercial building owners throughout the country, promoting fairness in the evaluation of flood risk and imposition of flood insurance requirements. Since its founding in 2001, Flood Zone Correction, Inc., has successfully reclassified over 90 percent of the properties evaluated. For more information visit the companyÂs website at http://www.floodzonecorrection.com or call (877) Flood Zone (877-356-6396).
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