This is the second in a series of articles analyzing the FloodFlash parametric flood insurance policy available now in California, Texas, Louisiana, Florida and Virginia. This article discusses the insuring agreement, sensor, and premium sections of the policy.
March 20, 2023 at 06:21 AM
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This is part 2 of our analysis of the FloodFlash Parametric Insurance policy. The company is providing parametric flood coverage in California, Texas, Louisiana, Florida and Virginia for commercial properties. The policy has been drafted in such a way as to be easy for consumers to read and understand. The policy is broken into the following sections:
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Christine G. Barlow, CPCU
Christine G. Barlow, CPCU, is Executive Editor of FC&S Expert Coverage Interpretation, a division of National Underwriter Company and ALM. Christine has over thirty years’ experience in the insurance industry, beginning as a claims adjuster then working as an underwriter and underwriting supervisor handling personal lines.
Christine regularly presents and moderates webinars on a variety of topics and is an experienced presenter.
When an association policy is nonrenewed and the new policy is substantially more so that unit owners are assessed for the increase in premium, can they file a claim under their loss assessment coverage for the increase?