Gainesville, FL (PRWEB) February 07, 2014
Evan Hecht, CEO of The Flood Insurance Agency, located in Gainesville FL, announced today a huge expansion of their Private Market Flood Program. “Our simple alternative to FEMA flood insurance is now available in the fifteen States in which over three and a half million of FEMA’s total five and a half million flood policies are located,” said Hecht.
Effective immediately the private market flood insurance program is also available for properties written on FEMA’s Dwelling policy form and FEMA’s General policy form. Until now only one to four unit residential properties could access the private flood program. With today’s announcement the program is open to non-residential and other residential properties, including commercial risks and apartment buildings.
The Private Market Flood program is currently written by certain Underwriters at Lloyd’s of London. Both the Dwelling Policy and the General Policy contain the exact same coverage as a FEMA flood insurance policy. The policies have been broadly accepted by lenders nationwide. During the program’s first three months of writing policies over $45 million of property value has been insured.
Policies are offered in Alabama, California, Connecticut, Florida, Georgia, Indiana, Louisiana, Michigan, New Jersey, Ohio, Pennsylvania, South Carolina, Virginia, Wisconsin and West Virginia. The private flood program is marketed both by appointed retail independent insurance agents and direct to the general public. The Company’s website, http://www.privatemarketflood.com, is overly informative and includes the premium rates, the policy wording, an online application and a link for new independent agents to become appointed.
The Company intends on expanding into additional States in the coming months.