EPUL enhances property investors coverages with FloodFlash parametric insurance partnership

Leading commercial property MGA, EPUL has joined forces with event-based flood insurance provider, FloodFlash, to provide a dedicated rapid pay out and recovery solution for property investors.

FloodFlash addresses the costs, time and uncertainty associated with traditional flood insurance. It enables property investors to access specific cover for flooding where it is not available or cost prohibitive, thereby, protecting and increasing their assets’ value and viability, even where these have been affected by flooding previously, and reopening investment opportunities in previously uninsurable properties or areas.

Brokers will be provided with a FloodFlash quote alongside renewal and new business quotes for EPUL’s Solutions and Omnibus specialist property investor policies where flood cover is excluded or where an enhanced excess has been imposed.

Cover is provided based on the property investor’s chosen flood trigger depths and level of pay out required. A mobile-connected sensor is installed to the building to be covered and as soon as the sensor confirms the chosen trigger depth has been reached, a payment is made. Property investors are also able to direct their tenants to the FloodFlash solution to help avoid business failures and lost rental income.

Andrew Whittaker, managing director of EPUL, said: “Providing FloodFlash’s parametric flood cover enables property investors to access even broader levels of protection for their assets and the ability to control their costs and period of recovery following flooding.

“EPUL is recognised by brokers for our ability to provide their property investor clients with comprehensive tailored coverage to meet their specific needs. Our partnership with FloodFlash is another example of our commitment to supporting brokers in securing the most suitable enhanced coverages for these clients.”

Brent Jackson, commercial director of FloodFlash, said: “Investing in flood-prone property can be costly and obtaining traditional flood cover a real challenge. Where cover is available and flooding occurs, it can take months before a claim is paid putting increased pressure on investors. Our parametric cover offers property investors access to valuable flood cover, peace of mind and the ability to access immediate cash payments.”

ENDS