Wright National Flood Insurance Company has announced an agreement to acquire the flood insurance policy book from IAT Insurance Group Inc. and its affiliate Occidental Fire and Casualty Company of North Carolina.
Beginning in early 2023, Wright Flood will service, administer, and issue flood coverage under the National Flood Insurance Program (NFIP) for IAT policyholders and agents, in addition to assuming the servicing of IAT Insurance Group’s private flood business.
Patricia Templeton-Jones, Wright National Flood Insurance Services president, commented, “IAT Insurance Group has provided flood coverage solutions for the past 15 years for its agent partners and policyholders.
“We look forward to continuing their long history and providing their agents with our experience in the flood insurance industry.
“Since the inception of the NFIP, Wright Flood has been a premier provider of flood coverage and private flood options for homeowners and business owners.”
Joe Tracy, IAT’s executive vice president of inland marine, property and aviation, added, “Wright has a well-established reputation of providing excellent service to customers and agents, especially at the time of a flood loss.
“We are confident customers will continue appreciating the peace of mind that comes with having flood coverage.”