#United States #St. Petersburg #Neptune Flood #Flood Insurance #US policies

Neptune Flood Achieves Significant Milestone

Neptune Flood, a prominent name in private flood insurance, recently announced a remarkable achievement: it has surpassed 250,000 active policies. This milestone underscores Neptune's status as a leading provider in the U.S. flood insurance market and highlights the growing acceptance of its innovative approach to flood protection.

Founded in 2018, Neptune Flood has quickly established a strong presence across all 50 states, including Washington, D.C. This growth can be attributed to their commitment to offering fast and reliable coverage to homeowners and businesses alike. Supported by over 30 global insurers and reinsurers, Neptune has built an impressive foundation for its operations.

CEO Statement

Trevor Burgess, the CEO of Neptune Flood, expressed enthusiasm regarding this milestone, stating, "Crossing the 250,000-policy mark is a significant moment for Neptune and for the broader private flood insurance market. This success reflects the strength of our team, the trust of our distribution partners, and the increasing demand for alternatives to the National Flood Insurance Program." Burgess added that with the increasing risk of flooding, there is a pressing need for simple, accessible, and flexible insurance coverage, which Neptune aims to provide on a larger scale.

Company Growth and Capacity

This announcement follows another significant development: Neptune's expansion to over $400 million in premium capacity. The company continues to showcase a track record of rapid and responsible growth, cementing its place in the industry. Here are some additional statistics that outline Neptune's impact on the flood insurance landscape:

• - Policies in Force: Over 250,000
• - Premium in Force: More than $320 million
• - Top Policy State: Florida holds the highest number of policies.
• - Most Policies per Capita: South Carolina leads in policies per capita.
• - County with Most Policies: Harris County, Texas.
• - Claims Payments: Neptune has made over $250 million in claims payments.
• - Major Claim Events: The event leading to the most claims was Hurricane Helene in 2024.

About Neptune Flood

Neptune Flood specializes in private flood insurance, revolutionizing how homeowners and businesses safeguard themselves from increasing flood risks. Utilizing proprietary AI-driven underwriting and machine learning, Neptune simplifies the insurance process by offering instant, affordable, and comprehensive coverage in a matter of minutes. Unlike traditional insurance methods fraught with delays and complexities, Neptune provides accessible coverage that addresses current demands. With ongoing operations in all 50 states and Washington, D.C., the company is dedicated to eliminating the flood insurance gap and ensuring comprehensive coverage is available nationwide.

In a volatile climate landscape, Neptune Flood's significant milestone not only signifies its success but also represents a progressive shift in how flood risks are managed in the insurance industry. Their proactive approach contributes to shaping a more resilient response to the increasing threats posed by flooding, setting a benchmark in the realm of private flood insurance.