Bala Cynwyd, PA (PRWEB) May 31, 2012
Floods can sink a commercial business, causing damage that can be hard to overcome and even shut them down for good. Philadelphia Insurance Companies (PHLY) is introducing a new flood insurance solution to protect a wide variety of businesses and get them back on solid ground.
PHLY is launching a new Commercial Primary Flood insurance product designed to be an alternative to businesses enrolled in the National Flood Insurance Program (NFIP). There are a vast number of flood-related risks, many of which are unique for different types of businesses. This protection is available to various non-residential types of businesses, including those in high hazard flood zones.
“We are an innovative and premier administrator of commercial primary flood insurance,” says Neal Schmidt, Vice President of Underwriting Specialty Property. “Our program separates PHLY from competitors by providing an attractive alternative for businesses looking for complete flood coverage at a great value.”
Included in the policy is replacement cost coverage for building and contents, as well as location limits up to $5,000,000. PHLY is partnering with its sister company WNC First Insurance Services to offer this flood program. WNC Insurance Services will underwrite and administer the program. Businesses looking to obtain coverage from Philadelphia Insurance Companies should contact their independent insurance agent or a PHLY sales representative directly at 800-873-4552.
Philadelphia Insurance Companies designs, markets, and underwrites commercial property/casualty and professional liability insurance products incorporating value added coverages and services for select industries. In operation since 1962, the Company, whose commercial lines insurance subsidiaries are rated “A++” (Superior) by A.M. Best Company and “A+” for counterparty credit and financial strength by Standard & Poor’s, is nationally recognized as a member of Ward's Top 50 and National Underwriter’s Top 100 (for in-depth financial information, please visit our website at http://www.phly.com). The organization has 46 offices strategically located across the United States to provide superior service.
Philadelphia Insurance Companies is the marketing name for the property casualty insurance operations of Philadelphia Consolidated Holding Corp., a Member of the Tokio Marine Group. In the United States, all products are written by insurance company subsidiaries of Philadelphia Consolidated Holding Corp. Coverage may not be available in all jurisdictions and is subject to actual policy language. Certain coverage may be provided by a surplus lines insurer. Surplus lines insurers do not generally participate in state guaranty funds and insureds are therefore not protected by such funds. Non-insurance products and services may be provided by independent third parties.
# # #