Gallagher launches flood protection product for golf courses

Gallagher has partnered with FloodFlash , a NormanMax company, to launch a parametric flood insurance solution for golf courses.

The new product offers up to $10 million in flood coverage per course and allows policyholders to customize flood-depth triggers and payout amounts. If floodwaters reach a pre-agreed depth, a payout is automatically triggered, providing funds that can be used for any flood-related losses.

The coverage is designed to address both physical and financial impacts of flooding, including damage to greens, tees, landscaping, clubhouses, and other structures, as well as business interruption, lost revenue, cleanup costs, and repairs.

As part of the program, FloodFlash installs sensors at client-designated locations around the course. The sensors monitor water levels with millimeter precision, enabling claims approval within 48 hours in most cases. FloodFlash says it aims to complete the entire claims process within 28 days.

According to Gallagher, the product is intended to complement traditional insurance policies, which often provide limited protection for flood-related damage to golf courses themselves.

“Golf courses are often built nearby water features such as rivers, lakes or on the coast, which makes them highly susceptible to flooding. Clearly the course itself is the most valuable asset for the business, as without it customers cannot use the facility, and whilst traditional insurance is readily available for the clubhouse and associated assets, cover for extreme weather damage to the course is less available and often excludes extreme weather events.” – James Bosley, Head of Climate Strategy, Carbon Insurance & Parametric Solutions at Gallagher.