Natural Catastrophe

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Natural Catastrophe

Flood

Innovative products that allow you to provide natural catastrophe coverage to your policyholders. 

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Product Development Capabilities

Inland Flood Coverage Endorsement

Flood is the most frequently occurring natural disaster in the United States and over 95% of the contiguous counties in the US have experienced at least one flood event during the past 15 years. With increased potential for flooding caused by weather pattern changes and more frequent or severe precipitation events, the Inland Flood Coverage Endorsement is an attractive alternative for non-coastal homeowners looking for competitively priced coverage to protect their homes and personal property.

Tailor-made solutions

The Inland Flood Coverage Endorsement is a personal lines policy endorsement that attaches to the insured’s existing homeowners or dwelling fire policy. It can only be purchased through a participating insurance carrier.

The coverage is designed primarily for policyholders in low-to-moderate flood hazard areas outside of wind and surge-exposed Atlantic and Gulf coastal counties. Many homeowners who live in these areas do not have insurance coverage for flood or seek a more affordable option. In fact, reports indicate the take-up rate of NFIP flood coverage in the areas that we are targeting is less than 1%.

The Inland Flood Coverage Endorsement is available through insurance companies that partner with Munich Reinsurance America, Inc. We make it easy and affordable to add Inland Flood coverage to the homeowners policies of our client insurers, with our affiliate companies providing claim services, form design and state filing support, agent training and marketing support services.

We offer two inland flood coverage options - stand alone flood endorsement and combined flood with sewer/drain endorsement - providing flexibility to better suit the particular needs of agents and policyholders.

Commercial Flood Coverage Endorsement

Floods are on the rise. Is your business protected? According to FEMA, after destructive events such as floods, 40% of businesses that close as a result never reopen. The National Flood Insurance Program (NFIP)’s coverage is built for high-risk flood zones, but their take-up rate outside of these zones is nearly nonexistent. While flood is the #1 most frequent natural disaster in the country, affecting all 50 states, our independent agent survey found that 70% of business owners with annual revenue below $500,000 have no flood coverage at all*. To address this need, Munich Re, US has developed a commercial lines flood coverage product for insurance companies who want to help small-business owners manage their flood risk more economically.

*Survey of 201 agents (75% independent age: 25% captive agents) conducted in March 2015.

Filling the gap

The Commercial Flood Coverage Endorsement is a white-labeled commercial lines policy endorsement. It is available to insurance clients with up to 100% quota share treaty reinsurance. It can be endorsed onto an existing Business Owners or Commercial Property policies.

This endorsement is an attractive alternative to a business owner that considers flood insurance optional and at a competitive price to National Flood Insurance Program (NFIP) provided coverage. Lower limits also appeal to the business owner that resides outside of Special Flood Hazard Areas and whose losses are expected to be less severe based on their business location.

We make it easy and affordable for our clients to add commercial flood coverage to their customers’ policies. Munich Reinsurance America, Inc. or one of our affiliates will provide claim services, form design, state filing support, agent training and marketing support services. An application programming interface provides fast and seamless eligibility and pricing through Munich Re’s proprietary InDepthsm flood rating engine.


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This publication is available exclusively to Munich Re clients. Please contact your Client Manager.