LEARNCommercial Flood Insurance: Basic Facts
- 25% of businesses that suffer a catastrophic event such as floods never reopen.
- The commercial flood insurance industry is driven primarily by the private market; only 5% of NFIP policies are commercial policies.
In June of 2017, the National Conversation Flood Resilience Dialogue held its second in-person engagement of the year, the Commercial Flood Insurance Roundtable. Participants included industry stakeholders, DHS S&T and FEMA officials, community leaders, and business owners who have been directly impacted by a flood event. Community leaders shared their flood experiences, and all participants discussed the need to develop technology solutions that enable business owners to better understand their risk.
JOIN THE CONVERSATIONWe want to hear from you…
- What can be done to help business owners understand their risk, assess potential loss, and make informed decisions about flood insurance?
- What technology and information solutions would make commercial flood insurance more affordable and easier for business owners to understand?
- What would better incentivize business owners to participate in mitigation actions?
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