Amwins announced the launch of its “Tees-to-Green” flood insurance program powered by Floodbase to reimburse U.S. golf courses for lost revenue due to flooding.
Golf courses are often built on land prone to flooding. Yet, resorts and courses generally only carry flood insurance for physical assets like golf carts, club houses, maintenance sheds, and equipment, said Amwins. Damage to the course itself and business interruption due to downtime are almost always excluded from current options on the market, which dramatically increases the cost of flood-related closures. If the course is unplayable for days, weeks, or even longer, lost revenue can include green fees and concessions, hotel reservations, restaurant patrons, and other forms of significant income.
Amwins’ new “Tees-to-Green” flood insurance coverage is possible because of satellite technology invented by Floodbase, an AI flood company founded in collaboration with Google.
Aegis Professional Risk, Sentry Launch E&O Program
Aegis Professional Risk, a division of Aegis General Insurance Agency and K2 Insurance Services, announced a partnership with Sentry Insurance to launch a new E&O program for insurance services professionals, real estate professionals, and miscellaneous licensed professionals
The Sentry Insurance business will be written on a non-admitted basis in all 50 states, with broad coverage forms designed for professionals operating in today’s litigious environment. Distribution will be open to select retail and wholesale brokers in the space.
Sentry鈥攚hich entered the specialty market in 2022鈥攚ill begin as the sole carrier supporting Aegis Professional Risk’s new E&O coverage.
Topics Flood New Markets
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