Aon Creates ‘Flood Secure’ Insurance Facility
In the wake of Post-tropical Cyclone Sandy,
The Company reported that Flood Secure reinstates exhausted or eroded flood limits of liability to help ensure organizations have replacement coverage for subsequent events. Coverage will match existing policy wording and provide immediate reinstatement of a client's impaired flood limit, including high hazard flood zones, for up to
"Flood coverage is one of the few aggregated limits found on most property policies," said
Aon noted that Flood Secure is not intended as a replacement for National Flood Insurance Program coverage. Clients should consult their policy for actual details of the replacement coverage.
Aon is a global provider of risk management, insurance and reinsurance brokerage, and human resources solutions and outsourcing services.
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