Welcome to Trusted Flood. Our private flood insurance program is delivered through AM Best “A” rated insurers.
As a wholesale insurance agency, we exclusively offer products through independent insurance agents who have demonstrated expertise selling and servicing flood insurance. We do not sell directly to consumers.
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Our Product
A Viable NFIP Alternative
Private flood insurance is a sound and viable alternative for the majority of NFIP policyholders within the Special Flood Hazard Area (A and V zones). Our program can accept residential, commercial and condominium association risks, often providing better coverage than the NFIP at a lower premium.
Policy Forms
Our base policy is the same as an NFIP policy, with endorsements that clean up or expand coverage. There is no circumstance where a claim that would be paid on an NFIP policy would be declined under a Trusted Flood policy. Our product meets the definition of “acceptable private flood insurance” as defined in the Biggert-Waters National Flood Insurance Reform Act of 2012.
Designed for the Majority of Policyholders
While federal law still makes private flood insurance a risky alternative for some policyholders, the majority of flood insurance policyholders will benefit from our program. For example, all losses under Trusted Flood insurance policies are settled at Replacement Cost rather than the Actual Cash Value settlement issued under most NFIP and many other private flood insurance policies.
Knowledge & Experience
Underwriters at Lloyd's of London and Dual Commercial have selected Trusted Flood to distribute their private flood insurance products. They have chosen Trusted Flood due to our superior knowledge/experience, our desire to help independent agents determine when private flood insurance is a good alternative for their clients and our commitment to both responsible underwriting and spread of risk to ensure the long-term viability of the program.
Frequently Asked Questions
What is Trusted Flood’s target market?
We are most competitive with pre-FIRM and post-FIRM risks located within the Special Flood Hazard Areas (A and V zones). This includes residential structures, commercial structures and condominium associations.
Does Trusted Flood anticipate following NFIP rate increases, particularly the mandatory increases for pre-FIRM Non-Primary policies?
The insurance product offered by Trusted Flood is priced to what we believe is an actuarially correct rate. While we do not intend to take rate increases simply because the NFIP takes rate increases, we will make responsible rating and underwriting decisions to ensure the long-term solvency and stability of the program.
How does Lloyd’s of London work?
Lloyd's of London is the world's specialist insurance and reinsurance market. To learn more about Lloyd's, please visit the following website:
Will lenders accept the Trusted Flood product?
There is no good reason for a lender to reject a policy written through Trusted Flood. The policy form contains specific language stating:
- 1. The policy meets the definition of “acceptable private flood insurance” as defined in the Biggert-Waters National Flood Insurance Reform Act of 2012.
- 2. The policy specifically states that coverage under the policy is “at least as broad” as the NFIP and there is no circumstance under which a loss would be paid under the NFIP but excluded under the Trusted Flood product.
If a lender refuses to accept a policy written through Trusted Flood, we will flat cancel the policy and provide a full refund of all premiums and fees paid.
How are premiums billed and commissions paid?
Trusted Flood policies are Agency Billed. Agents will receive an invoice at the time a policy is issued. Payments for premium less commission should be paid online using ePayPolicy.
What does Trusted Flood do to ensure the longevity of its program?
We underwrite. We seek to strike a reasonable and responsible balance between the lack of elevation-based underwriting associated with several private flood insurance programs and the overly complex rating/underwriting practices of the NFIP. We have also designed our program to attract the spread of risk necessary to avoid concentrations in areas that are particularly prone to catastrophic loss according to risk modeling.
Are policyholders protected by state guarantee funds?
No. The insurance product offered by Trusted Flood is an Excess and Surplus Lines product. This structure affords insurers greater flexibility to make necessary adjustments quickly, which is the reason most innovations in the insurance industry are made by Excess and Surplus Lines insurers. Each state in the United States has its own laws and regulations regarding the operation of E&S insurers.
Lloyd’s of London has its own unique structure called “The Chain of Security” to help ensure the financial stability and integrity of obligations borne by Lloyd’s syndicates.
What risks are unacceptable to Trusted Flood?
Exclusions:
- Properties located in the following areas:
- State of Kentucky
- State of Louisiana
- Sacramento County, CA
- Monroe County, FL (Florida Keys)
- Top Sail Beach, NC
- Devils Lake, ND
- Fire Island, NY
- Block Island, RI
- Galveston County, TX
- Padre Island, TX
- St. Charles, St. Louis, Franklin, Warren and Jefferson counties in MO
- NFIP Group Flood policies
- Properties located in a in an Emergency Program commmunity.
- Contents coverage on Medical Equipment, Food/Drink and Printing.
- Cannibas-related businesses.
- Properties built on stilts over water.
- Multiple properties at the same location in Tier 1 Counties and where TIV exceeds $10,000,000.
- Properties with prior losses, unless all of the conditions below are true:
- Only one prior loss in 10 years
- Located five miles or less from a Coastal body of water
- Loss was the result of a Named Storm
- Gross loss amount did not exceed $35,000
What is the Quoting Process?
Most quotes can be completed and bound online. Manual submissions are required for the following risks:
- TIVs over $5M
- Condominium Associations
- CBRA zones and non-participating communities
- Structures with basements
- Multiple building schedules
- Locations designated by online rater as requiring manual submission
Why Trusted Flood?
Trusted Flood is easy and efficient to use.
- Agents can quote and bind primary and excess policies entirely online in just a few minutes.
- Policies and invoices are emailed to the agent immediately after eSigning.
Trusted Flood was designed with long-term stability in mind.
- We seek to strike the proper balance between risk selection, pricing and ease of use.
- We do not accept every risk accepted by the NFIP and while we are often priced lower than the NFIP, there are occasions where we believe the NFIP rate is inadequate according to our modeling.
- We actively manage our spread of risk to ensure reliable availability and long-term profitability.
The Trusted Flood policy is written through Certain Underwriters at Lloyd's of London, rated A by A.M. Best.
- Risk is spread among multiple syndicates resulting in stable pricing and availability.
- Please see our FAQs for additional information regarding the Lloyd’s structure.
- Trusted Flood’s management team and underwriters are highly experienced writing primary and excess flood insurance.
Trusted Flood recognizes the important role independent agents play in the distribution of flood insurance and we compensate agents accordingly.
- Our commission rates are significantly higher than most competitors.
- While some competitors market directly to consumers, Trusted Flood does not.
- Trusted Flood is distributed exclusively through retail insurance agents, who own their expirations.
Trusted Flood has one of the most comprehensive product offerings in the industry.
- We have pre-FIRM and post-FIRM solutions for individuals, businesses and condominium associations.
- Our products offer coverage options that improve upon NFIP policies.
- Our policies specifically state there is no circumstance under which a claim that would be covered under an NFIP policy would be denied under a Trusted Flood policy.
- NFIP policies, which are essentially the policy forms used by most private flood insurers, include several clauses and conditions that create E&O exposures for agents.
- Trusted Flood policies offer policy language that can improve coverage and can eliminate some of these exposures.
Our Program Manager
- DUAL North America is the Managing General Underwriter for our unique private flood insurance program.
- While DUAL handles all underwriting and accounting functions, the Trusted Flood team has vast flood insurance experience and is available to assist agents with program questions.
- Agents may recognize DUAL North America from other private flood programs, but the Trusted Flood program is different and offers distinct advantages over those and other private flood options.
To become appointed with Trusted Flood, simply contact us at FloodExpert@TrustedFlood.com. A login will be issued along with a welcome letter containing necessary documents. Once those are submitted to us, you can begin writing with Trusted Flood!
