#USA #Flood Insurance #FTP #Coastal Flood #Old Bridge

FTP, INC. Enhances Flood Insurance Solutions with Strategic Acquisition

In a transformative move for the flood insurance industry, FTP, INC. has officially announced that it has acquired Coastal Flood Underwriters, LLC, a well-respected name in the field of flood insurance solutions. This acquisition marks a critical step forward for FTP as it aims to reinforce its commitment to providing tailored flood insurance services across the nation.

Coastal Flood Underwriters, founded in 2017 by the experienced Paul E. Papangelou, ANFI, has built a solid reputation in the flood insurance market. Under his leadership, the company became a trusted resource representing over 19 private flood insurance providers, alongside the National Flood Insurance Program (NFIP). Papangelou's extensive background in underwriting and risk management has established Coastal Flood Underwriters as a key player serving clients across 28 states in the U.S.

With this acquisition, FTP, INC. showcases its dedication to enhancing its specialty insurance offerings. "Joining forces with FTP, INC. is a momentous occasion for us," expressed Papangelou. He commented on the shared values between the two organizations, emphasizing their collective focus on innovation and customer-centric flood insurance solutions. With FTP's considerable resources and underwriting expertise, the partnership is set to elevate the quality of service and support provided to agents and clients alike.

Frank Powell, President of FTP, INC., also shared his thoughts on the acquisition, underscoring the strategic importance of bringing Coastal Flood Underwriters into the fold. He noted, "We are continually seeking opportunities to invest in exceptional organizations that can enhance our service offerings in the insurance world. This partnership will enable us to improve how we address the increasing demands for comprehensive flood insurance coverage."

One of the most exciting developments following this acquisition is the launch of FTP's innovative Flood Platform, set to debut later this month. This platform will integrate FTP's proprietary managed flood program with other industry-leading products, significantly enhancing the options available to agents and clients.

Papangelou is set to play a crucial role within FTP's flood team, utilizing his vast expertise to navigate the evolving landscape of flood insurance and to foster future growth and success. This integration of knowledge and experience underscores FTP's commitment to addressing the growing crisis of climate change and its impact on flooding risks.

The collaboration between FTP and Coastal Flood Underwriters reflects a proactive approach to not only meet the rising demands for comprehensive flood insurance solutions but also to equip agents and clients with innovative products and superior service. Together, they aim to lead the charge in providing robust flood insurance solutions amidst the challenges presented by our changing climate.

For those interested in learning more about the available flood products from FTP, detailed information can be accessed at ftpins.com/flood.

About FTP, INC.

Founded in 1957, FTP, INC. stands as a multi-generational independent Managing General Agency (MGA) and Wholesale insurance provider based in Old Bridge, New Jersey. Renowned for its tailored insurance solutions and robust partnerships with top carriers, FTP continues to be a trusted leader in the insurance industry, serving both personal and commercial needs across the United States.

For further inquiries or detailed information on their offerings, you can reach out to FTP at their official site.