Wright National Flood Insurance Company announces agreement with IAT Insurance Group: Wright National Flood Insurance Company

2022 NOV 10 (NewsRx) -- By a News Reporter-Staff News Editor at Mergers & Acquisitions Daily News -- Wright National Flood Insurance Company, the nation’s leading provider of federal flood insurance, 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 (“IAT”).

Wright Flood will service, administer and issue flood coverage under the National Flood Insurance Program (NFIP) for IAT policyholders and agents. Additionally, Wright will also assume the servicing of IAT Insurance Group’s private flood business.

Wright Flood has more than 40 years of experience exclusively in the flood insurance industry. It is widely recognized for its industry-specific knowledge, claims response and long-standing commitment to partner with agents and policyholders, especially at the time of a flood loss. Wright Flood takes pride in user-friendly technology, exceptional claims reputation and providing the service customers deserve.

Patricia Templeton-Jones, Wright National Flood Insurance Services president, said she is excited about the partnership with IAT agents.

“IAT Insurance Group has provided flood coverage solutions for the past 15 years for its agent partners and policyholders,” Templeton-Jones said. “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.”

“Wright has a well-established reputation of providing excellent service to customers and agents, especially at the time of a flood loss,” said Joe Tracy, IAT’s executive vice president of inland marine, property and aviation. We are confident customers will continue appreciating the peace of mind that comes with having flood coverage.”

Beginning in early 2023, Wright Flood will manage IAT’s NFIP flood placements. Wright National Flood Insurance Company, which is AM Best-rated as A (Excellent) for financial strength, will issue all new policies and renewals. For retail agents accessing flood coverage through IAT, there will be minimal change in the process to continue to provide NFIP coverage for policyholders.
Keywords for this news article include: Business, Mergers and Acquisitions, Wright National Flood Insurance Company.

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