Fallout from Recent Flooding
Insurance Commissioner Al Redmer Jr. is urging producers and carriers to offer adequate coverages in light of consumer complaints following recent flooding. Redmer issued two bulletins on the subject:
Bulletin 18-10 addresses the need for producers to offer water/sewer backup coverage and goes on to discuss related coverage-offer and coverage-limit requirements.
Bulletin 18-11 reminds producers to “advise their clients to consider the costs and benefits of flood insurance coverage, regardless of whether their property is located in a flood zone.”
RELY ON OUR RESOURCES
Educate your customers on their risks and coverage options to stay in the insurance commissioner’s good graces. As a reminder, you have access to our extensive library of vetted consumer education pieces – included one on flood insurance and water/sewer backup coverage. The information is available as professional designed, customizable flyers and as raw copy for you to repurpose as you see fit (think: website content, social media posts, etc.).
Also be sure to document conversations you have with your customers. Our sample Flood Insurance Notification and/or Rejection of Coverage form can help.
AID BEYOND INSURANCE
The U.S. Small Business Administration approved Gov. Larry Hogan’s request for a physical disaster declaration for Frederick County. Hogan also requested a presidential disaster declaration. These declarations open up loans to residents and property owners in the area.