United Assets & Casualty Insurance Business (UPC Insurance policy) has agreed to provide to its flood coverage policy book to Wright National Flood Insurance Company – a leading service provider of federal flood insurance policies.
Under the settlement, Wright Flood will company, administer, and issue flood coverage under the Countrywide Flood Coverage Plan (NFIP) for UPC Insurance policyholders and agents.
The transaction is predicted to shut on June 20, 2022, issue to approval by the Federal Emergency Management Agency (FEMA).
If the transaction is shut on the predicted day, then commencing in the third quarter of 2022, Wright Flood will handle UPC Insurance’s NFIP flood placements.
In addition, all new policies and renewals will be issued by Wright Nationwide Flood Insurance coverage Company, which is AM Ideal-rated for money toughness as A- (Excellent).
What’s more, for retail agents that are accessing flood protection through UPC Insurance, there will be small improve in the method to continue on to present NFIP coverage for policyholders. Both equally Wright Flood and UPC Insurance representatives will be in contact with their brokers.
UPC Insurance’s Main Details and Main Operating Officer Chris Griffith, commented: “We are pleased to have reached an agreement with Wright for the sale of UPC Insurance’s NFIP flood e book of company. Wright’s excellent name in the flood space and specialised information of the NFIP Compose Your Have method will serve the dynamic requires of UPC Insurance’s NFIP policyholders and brokers.”
Wright Nationwide Flood Coverage Expert services President Patricia Templeton-Jones, extra: “United Assets and Casualty Business has been about because 1999 for its policyholders and agent partners. We are excited to have on that long heritage and supply our expertise in the flood insurance coverage industry to build a smooth transition throughout this approach.
“Wright Flood has prolonged been a premier service provider of NFIP flood protection and personal flood insurance policies solutions for both equally home owners and organizations. That dates back again to 1983 when it was just one of the very first Write Your Personal (“WYO”) contributors in the Countrywide Flood Insurance coverage Software. We have been diligent in being existing on all of the updates with Danger Score 2. and appear ahead to offering those people insights with our new agent associates and policyholders.”