HomeInsuranceExecutive shutdown would possibly not prevent Neptune Flood

Executive shutdown would possibly not prevent Neptune Flood

Executive shutdown would possibly not prevent Neptune Flood | Insurance coverage Trade The us

Corporate says it’ll proceed writing insurance policies if executive shuts down

Government shutdown won't stop Neptune Flood

Disaster & Flood

By way of
Ryan Smith

Flood insurance coverage supplier Neptune Flood has introduced that it’ll proceed writing insurance policies in 48 states and Washington, D.C., will have to the government close down Sept. 30. A central authority shutdown would halt the issuance and renewal of flood insurance coverage insurance policies through the federal government’s Nationwide Flood Insurance coverage Program (NFIP).

As a personal flood insurance coverage supplier, Neptune Flood is unaffected through the imaginable shutdown and will proceed writing insurance policies, the corporate stated.

“Neptune urges Congress to paintings in combination to fund the federal government and to stop a shutdown of vital FEMA actions just like the NFIP program, as this system performs a vital function in serving to give protection to householders from the catastrophic dangers of flooding,” stated Trevor Burgess, CEO of Neptune Flood. “The Nationwide Affiliation of Realtors alerted Congress that a central authority shutdown may jeopardize as much as 1,300 assets gross sales in keeping with day that depend at the NFIP for a compulsory flood insurance coverage ahead of ultimate. Neptune will likely be up and operating thru any shutdown, in a position to put in writing flood insurance coverage throughout the USA.”

Neptune additionally gives upper protection limits than the NFIP, and has no ready duration for actual estate-related transactions, the corporate stated.

“Neptune is huge sufficient to assist tens of hundreds of extra American householders in case of a central authority shutdown,” stated Jean-Luc Eckstein, Neptune leader buyer officer. “Neptune protects over 165,000 houses and companies with bank-accepted personal flood insurance coverage, and our crew is able to improve brokers and shoppers in want.”

Final month, Neptune introduced the a success renewal and growth of its service relationships. The corporate additionally lately introduced the appointment of Matthew Duffy as leader chance officer.

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