FloodFlash launches new dealer program

Parametric flood MGA FloodFlash has added a dealer program for car dealerships across the US.

The new program can be used for any losses associated with flooding including stock damage, relocation and business interruption.

Each policy comes with a smart sensor that is installed on the lot or insured property. The sensor sends claim data and the average claim payment happens a couple of weeks after the flood, according to the company.

“Certain sectors are underserved by existing flood carriers time and again. One of the greatest examples of this is auto dealerships. Many insurers baulk at the potential loss of car or motor-home stock that even low level flooding can cause. Our new program is designed to support dealerships that have previously struggled to secure limits that would truly protect their businesses from flooding. It also rewards those businesses that are taking steps to mitigate their flood losses by aligning risk management practices with lower premiums.” – FloodFlash US Commercial Director Rich Coyle.