We recently completed an expansive update to our state of the art DUAL Commercial Private Flood on-line rating portal. This portal simplifies the flood application process and creates an instant bindable premium quotation, complete with e-signature, surplus lines / tax filing capabilities and electronic policy deliverance.
This easy to use system can be private labeled and can be set up for you to manage flood insurance submissions from your retail distribution channels. The program was created to assist insureds affected by rising National Flood Insurance Program (NFIP) premiums. The NFIP has invoked big increases on PRE FIRM structures, commercial properties and secondary homes. These markets will experience anywhere between a 15% to 20% annual premium increase, a new surcharge of 15% is also be added to these policies as well as a $250 policy fee. These premium increases are slated to continue until the NFIP deems the risks actuarially sound.
DUAL Commercial’s Private Primary Flood solution truly mirrors the NFIP program and has passed lender acceptance. This facility can write up to $5 Million in primary flood coverage on any one building. We have additional options that will write excess flood coverage up to $45 Million. Our program will offer premiums about 15% to 25% cheaper than the NFIP renewing premium. In addition, we will be offering replacement cost adjustments, business interruption/loss of rents, additional limits for betterments & improvements. Our flood program has the capabilities of scheduling multiple locations under one master policy.