FloodFlash US Case Studies
“Without question the best insurance claim experience I’ve ever had by some distance.”
We’re proud to have helped clients recover faster than ever. Take a look through our case studies and testimonials to see how risk managers like you have benefitted from FloodFlash parametric insurance.
James
REIT Client who claimed in 2020
Top up policy for electricity provider in the Florida Keys
Electricity - Florida
The flexibility of a FloodFlash policy means clients can match trigger depths to the depth of flood water that would result in a loss. FloodFlash experts are on hand to help brokers, agents, and their clients to balance coverage requirements within the budgets available.
Based deep in the Florida Keys the business provides electricity and service maintenance for one of the most unique areas of the United States. The business serves approximately 33,000 residents and businesses from in the Keys.
The business’s office on the Overseas Highway flooded in 2017. While water reached the external wall of the building, the water didn’t get to a depth to enter the raised part of the property.
With NFIP coverage in place, the business previously had excess coverage. As rates changed and traditional capacity became harder to come by, the business saw their premium soar.
FloodFlash allows clients to choose a trigger depth that works for them. As this client has a raised first floor height, they could align their trigger depth with the height when water will enter their property and start causing damage.
This meant that FloodFlash could provide insurance for the client when they needed it most, at the same time accessing premium levels more compeitive than excess flood providers.
The result: an insurance option that met the client’s risk needs and budget.
NFIP-wraparound for BI + excess layer
Education - Massachusetts
The two-trigger policer considers when water will enter the essential buildings and result in operational costs for the school, as well as when the NFIP will be exhausted.
The client is a boarding school situated on the Boston waterfront, responsible for teaching over 500 students.
The school is no stranger to the impacts of flooding, having flooded in 1938 and more recently in 2022. When their renewal came around, they began to look at improving their existing coverage.
With the number of buildings on site, and the business interruption associated with a flood, they were looking to significantly increase their coverage.
Their broker suggested FloodFlash as an option to the client. To establish possible sensor locations and trigger depths, the FloodFlash team carried out research into the elevation around the site, and visited the school with the CFO and the broker.
Their main concern was the dorms and kitchen building on the waterfront. If these flood, the school either has to close and return school fees, representing a loss of revenue, or source alternative accomodation and catering, increasing their operational costs. The school’s preference was the latter, minimising any disruption to the education of their students.
The flexibility of a FloodFlash payout means that the school had confidence that any costs associated with a flood could be covered, and their cashflow could be protected to minimise the longer-term impact a flood event can cause.
Catastrophic insurance for a Texan marina
Recreational activities - Texas
After looking at a number of possible locations for the sensor with the FloodFlash team, the client opted for the area that had had the deepest flood waters during Hurricane Harvey. They chose their trigger depth so that a payout would cover a catastrophic event.
With club houses, swimming pools, tennis courts, and restaurants, this marina offers its users a range of fantastic facilities to use after a day on the Texan waters.
The marina flooded during Hurricane Harvey in 2017, with an 8ft surge reaching the roofs of several of their single-storey buildings.
Not only are the docks, electrics and leisure facilities difficult to insure, but the marina was also struggling to find suitable business interruption coverage to account for lost revenue during a flood event.
A FloodFlash payout can be used on any damages or costs associated with a flood event. That’s why many clients with leisure facilities or BI exposure purchase FloodFlash coverage.
In the event of a flood, the marina can use the payout to cover lost revenue from the businesses who lease the facilities, as well as any damage to the docks and electrics.
Non-standard property coverage for a Colorado Golf Course
Golf Course - Colorado
The client estimates that a rapid-payment claim would allow them to reopen within a month or two of a flood – representing a significant saving in business interruption costs.
At an elevation of 6,000ft, this privately owned public golf facility is situated amidst acres of rolling hills in central Colorado.
After extensive flooding in 2023, the client received no payment from their traditional policy because the flooding did not reach the elevated clubhouse – a predicament that many golf courses face, even without knowing.
The course was closed for a whole year to give room for repair and landscaping, as well as to raise the nearly $2m necessary to recover.
The client and their broker worked hard to understand what options were available for course and green coverage. After finding FloodFlash, they worked closely with the team to establish key areas of the course that, if flooded, would lead to a similar disruption to the previous flood.
The FloodFlash team visited the course, walking round the course with the client and their broker to help identify the exact coverage needed. The client opted for 14 sensors across the undulating terrain, placed on wooden posts and outbuildings across the course. As the sensors are in between the creek and the course, and therefore at a lower elevation than the course, the client can be confident that if flooding affects the course, they’ll receive a payout.
