Flooding is one of the most frequent and financially damaging natural hazards in the United States, with average annual flood damage to public and private infrastructure estimated at around $46 billion per year over the past decade, imposing a significant burden on state and local budgets as well as federal disaster programs.

Many public sector entities remain under protected against flood-related losses under traditional insurance policies, and federal disaster assistance often represents only a small portion of total economic damages following major events.

Amwins has partnered with Floodbase, an industry-leading flood data and insurance structuring platform, on a flood program with payouts that scale with the magnitude of flood-related losses. The program offers flexible pricing with rapid payouts that governments can use at their discretion to assist with emergency response, lost tax revenue, business interruption and more.

How Our Program Compares to Current Coverage Options:

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How it Works: The Design of the Parametric Flood Program

Step 1: The insured area is defined by a boundary drawn around municipal borders.

Step 2: The presence of water is measured hourly within this boundary (no equipment installation necessary).

Step 3: Payout triggered when amount of flooding exceeds threshold.