flood insurance

Flood Re—a collaborative initiative between the UK government and insurers aimed at enhancing the affordability of flood insurance for homeowners—has experienced a dramatic surge in reinsurance premiums and claims-related expenditures.

While natural disasters vary by season and region across the U.S., many property owners are still caught off guard by just how widespread—and costly—flood and water damage can be when a powerful storm strikes their homes, businesses, and communities.