Protection for Earthquakes, Flooding, Landslides and Other Natural Disasters
Earthquakes, flooding and landslides can create a devastating burden on businesses, often shutting down operations. The Insurance Information Institute reports that approximately 40% of companies do not reopen after a catastrophe or disaster.
While natural disasters may be unpredictable, the IGP Specialty Natural Disaster Program helps clients establish solid preparedness plans to proactively protect individuals and businesses before a catastrophe occurs. According to the Federal Emergency Management Agency (FEMA), prepared businesses reduce losses by resuming operations more quickly and restoring normalcy to their communities.
Our Natural Disaster Program addresses common challenges faced after a catastrophe including loss of income, personal property, and buildings – and a thorough review of insurance coverage. Our experienced insurance professionals work with carriers to evaluate natural disaster exposures, underwrite risk, and efficiently issue policies based on the unique needs of each client.
Contact us today to learn more about how we can help protect clients from the unexpected.
Residential property
- Dwelling
- Other structures
- Personal property
- Additional living expenses
- Debris removal
Commercial property
- Building
- Contents
- Loss of income/extra expense
- Debris removal
Maximum limits
- Maximum TIV $25M and Maximum Limit $10M
Minimum premiums
- Residential: $500
- Commercial: $500
The information below is a general summary of common requirements and exclusions and is for reference only. Additional requirements and exclusions may apply.
Exclusions
By location
- Florida: Flood limitations; coverage not available in Monroe County
- Hawaii: Coverage not available in Hilo
- Louisiana: Coverage not available
- Texas: Flood limitations
By geographic proximity
- Flood risks within five miles of the Mississippi or Missouri Rivers
- Flood risks within one mile of the Hudson, Delaware, Ohio, or Susquehanna Rivers
- Flood risks located more than three feet below the base flood elevation
- Coastal flood risks exceeding $2.5MM in total insurable value (TIV):
• All of Florida and Louisiana
• First tier Texas to North Carolina (AL, FL, GA, LA, MS, NC, SC, TX)
• Flood risks within two miles of saltwater in Massachusetts and Virginia - Earthquake in zones A or B of the California Catastrophic Risk Evaluation and Standardizing Target Accumulations (CRESTA)
- Flood in Coastal Barrier Resource Act (CBRA) zones
- Cresta A & Cresta B zones
By structure
- Buildings built pre-1950 must be seismically retrofitted if masonry construction and bolted/secured if all others
- Duplexes or condos, unless building is fully owned or coverage is contents only
Prior Approval
The following would require prior submission to the carrier and are not automatically excluded:
- Florida, Hawaii, Louisiana, and Texas should read, “Carrier approval required”
- Flood risks more than three feet below BFE
- Coastal floods risks
- Flood in Costal Barrier Resource Act (CBRA) zones should be moved to the exclusions section
- Foundational pilings on earthquake and landslide coverage
- Can we add “High Landslide susceptibility in King County, Washington”
See how IGP Specialty can tailor a comprehensive package to meet your specialized insurance needs.
Territory: National, some exclusions
programs@igpspecialty.com
(800) 842-8917 | Fax: (610) 537-2025
Ready to Get Started?
Contact us to explore how IGP Specialty can tailor a comprehensive package to meet your specialized insurance needs.
Territory: National, with some exclusions
- ndp@igpspecialty.com
- (800) 842-8917
- (610) 537-2035
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