Westfield Expands Flood Protection Options for Homeowners
Property/casualty insurer Westfield is expanding its protection options for U.S. homeowners by offering an inland flood coverage add-on designed to help reduce the insurance gap for those living outside historical high-risk flood zones.
Developed with a global reinsurer, the coverage helps homeowners recover from flash floods, which are increasingly affecting areas previously considered low risk. According to the Federal Emergency Management Agency (FEMA), in 2023 more than 40% of flood insurance claims came from outside high-risk flood areas.
“With increasingly unpredictable weather patterns, flooding is no longer confined to FEMA-designated high-risk areas,” said Steve Butler, assistant vice president, personal lines product management and underwriting.
Rokstone’s Farm & Ranch Bundled Products Now in 14 States
Rokstone Farm Risks Underwriting, part of managing general agency Rokstone, launched a farm and ranch package policy in 14 states. The bundled product includes property, auto, and excess in one package, bringing stability to this vital market at a time when carriers are restricting capacity, restricting terms and conditions and increasing premiums, said Rokstone
The 14 states are: Delaware, Illinois, Indiana, Kentucky, Maryland, Michigan, New Mexico, North Carolina, Ohio, Pennsylvania, South Carolina, Tennessee, Virginia, and West Virginia.
The bundled package is available to agents using Rokstone’s quote and bind platform. Agents can also self-serve mid-term adjustments in minutes.
Based in Ohio, Rokstone Farm Risks Underwriting works alongside Rokstone Agriculture to provide $15 million property, $1 million auto liability and $5 million in excess – all with A rated capacity.
Rokstone is part of the Aventum Group.
Topics
Flood
New Markets
Agribusiness
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