Reinsurance News
Neptune Flood
Rising demand for flood insurance as 90% seek full coverage after 2024 hurricanes: Neptune Flood survey
31st January 2025
Neptune Flood, a provider of private flood insurance in the United States, has released findings from its fifth annual Neptune Consumer Survey of Flood Awareness, which highlights growing demand for tailored flood insurance solutions. Conducted in collaboration with the University of South Florida St. Petersburg Customer Experience Lab, the survey provides insights ... Read the full article
Private insurers uniquely positioned to close US flood coverage gap: Neptune Flood
24th December 2024
In a new report analysing the U.S. residential flood insurance market, Neptune Flood has underlined the critical role private insurers can play in addressing the nation’s growing flood coverage gap. According to the firm's research, more than 20 million homes in the U.S. face moderate to severe flood risk, yet only ... Read the full article
Total NFIP losses from 2024 flood events could reach $10.5bn: Neptune
14th November 2024
US private flood insurer Neptune Flood reports that the National Flood Insurance Program's (NFIP) estimated losses from 2024 flood events, including Hurricanes Helene and Milton, as well as Hurricanes Beryl, Debby, and Francine, could reach up to $10.5 billion. Hurricane Helene has been especially impactful for the NFIP, with over 55,000 ... Read the full article
Neptune Flood hits 200,000 policies and $250 million in premiums
4th September 2024
Neptune Flood, a private flood insurance provider in the US, has hit a major milestone with 200,000 policies and $250 million in premiums. This marks a new stage in the company's efforts to deliver cutting-edge, affordable insurance options across the country. Neptune Flood has revolutionised the traditional flood insurance model by using ... Read the full article
Neptune positioned to write over $100bn in insurance with increased capacity for 2024 hurricane season
4th June 2024
Us private flood insurer Neptune Flood has secured over $300 million of premium capacity for the 2024 hurricane season, which is predicted to be more intense compared to other years. The increased capacity positions the company to write over $100 billion in insurance and protect up to 100,000 additional homes and ... Read the full article
Neptune Flood promotes Matt Duffy to MD and Chief Risk Officer
23rd May 2024
US-based private flood insurance company, Neptune Flood, has promoted Matt Duffy to the role of Managing Director (MD) and Chief Risk Officer. Duffy has been with the company for three years, serving as the Chief Risk Officer. Previously, he served as the Executive Vice President of Enterprise Technology Solutions at Bank ... Read the full article
Neptune Flood to enhance AI-driven flood insurance solutions with new acquisition
2nd May 2024
Private flood insurance company Neptune Flood has acquired Charles River Data, a renowned Boston-based data science consulting group, marking a significant milestone in the company’s growth strategy. According to the announcement, this strategic move aims to bolster Neptune Flood's Triton underwriting system through advanced data science, machine learning, and artificial intelligence ... Read the full article
Neptune addresses outdated NFIP limits with new excess flood insurance product
21st February 2024
Neptune Flood, a private flood insurance company, has recently introduced its new excess flood insurance product. This insurance offers additional coverage beyond what's provided by the National Flood Insurance Program (NFIP). With this excess flood policy, customers can get coverage beyond the maximum limit offered by the NFIP. This means they ... Read the full article
Neptune Flood announces expansion into Kentucky
29th December 2023
Neptune Flood, a provider of private flood insurance across the United States, has expanded into Kentucky, making residential, commercial, and RCBAP flood products available in the state. As a result, the company is now available across 49 states, as well as Washington, D.C. Trevor Burgess, Neptune's ... Read the full article
Neptune Flood crosses $200m of premium in force
27th October 2023
Neptune Flood, a provider of flood insurance across the United States, has crossed $200 million of premium in force, bringing the company to over 5% of the National Flood Insurance Program's size, securing its role as the primary alternative to the NFIP. "Growing in scale highlighted the need for sage ... Read the full article
Neptune’s growth in re/insurer relationships provides $100m+ additional premium capacity
23rd August 2023
Neptune Flood, a private flood insurance company, has announced successful growth in insurance carrier and reinsurer relationships, having reviewed and expanded programs with AXA XL, MS Transverse, and Lloyds. The 2023-24 renewals have expanded Neptune's network to 23 insurance carriers and reinsurers, backing six unique programs with AXA XL, MS Transverse, ... Read the full article
Bregal Sagemount & FTV Capital invest in Neptune Flood Incorporated
16th May 2023
Bregal Sagemount and FTV Capital, two leading growth-focused private equity firms, have announced a strategic growth investment in Neptune Flood Incorporated. Both Sagemount and FTV will acquire a substantial minority stake in the firm, with Neptune CEO and management maintaining majority ownership. Financial terms of the transaction were not disclosed. Launched in ... Read the full article
Neptune Flood names Matt Duffy Chief Risk Officer
6th December 2022
AI-driven flood insurtech Neptune Flood has announced the appointment of Matthew Duffy as Chief Risk Officer. Duffy's appointment comes internally, having spent the last eighteen months as Neptune's Director of Risk Management & Internal Audit. Prior to this, he worked for eight years at Bank OZK and its predecessor, C1 Bank, in ... Read the full article
Neptune Flood sees more demand as hurricane Ian hammers Florida
29th September 2022
According to a report from Neptune Flood, the firm saw a 4x increase in quotes above its normal volume as of Monday the 26th. Hurricane Ian made landfall on Wednesday the 28th as a major Category 4 storm with maximum sustained winds of around 155 mph near the Cayo Costa ... Read the full article
Neptune Flood announces partnership with SIAA
20th July 2022
AI-driven flood insurtech Neptune Flood has announced a new partnership with SIAA (Strategic Insurance Agency Alliance), an US alliance of independent insurance agencies. With this partnership, SIAA members will have access to Neptune solutions for flood risk through SIAA MarketFinder, SIAA’s online member-only portal for difficult-to-place and specialty risk markets. According to ... Read the full article
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