Wright National Flood Insurance Company announces agreement with UPC Insurance: Wright National Flood Insurance Company
Mergers & Acquisitions Daily News
2022 JUN 23 (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 United Property & Casualty Insurance Company (“UPC Insurance”). The transaction is expected to close on June 30, 2022, subject to approval by the Federal Emergency Management Agency (“FEMA”).
Wright Flood will service, administer, and issue flood coverage under the National Flood Insurance Program (“NFIP”) for UPC Insurance policyholders and agents.
Beginning in the third quarter of 2022, Wright Flood will manage UPC Insurance’s NFIP flood placements. All new policies and renewals will be issued by Wright National Flood Insurance Company, which is A.M. Best-rated for financial strength as A- (Excellent). For retail agents accessing flood coverage through UPC Insurance, there will be minimal change in the process to continue to provide NFIP coverage for policyholders. Together, Wright and UPC Insurance representatives will be in contact with their agents.
Wright Flood has more than 40 years of experience exclusively in the flood insurance industry. It is widely recognized for its experience, 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 a high level of service.
Wright National Flood Insurance Services President Patricia Templeton-Jones said she is excited about the new partnership with UPC Insurance agents.
“United Property and Casualty Company has been around since 1999 for its policyholders and agent partners,” Templeton-Jones said. “We are excited to carry on that long history and provide our experience in the flood insurance industry to create a smooth transition during this process.”
“Wright Flood has long been a premier provider of NFIP flood coverage and private flood insurance options for both homeowners and businesses,” she added. “That dates back to 1983 when it was one of the first Write Your Own (“WYO”) participants in the National Flood Insurance Program. We have been diligent in staying current on all of the updates with Risk Rating 2.0 and look forward to providing those insights with our new agent partners and policyholders.”
“We are pleased to have reached an agreement with Wright for the sale of UPC Insurance’s NFIP flood book of business,” said UPC Insurance’s Chief Information and Chief Operating Officer Chris Griffith. “Wright’s excellent reputation in the flood space and specialized knowledge of the NFIP Write Your Own program will serve the dynamic needs of UPC Insurance’s NFIP policyholders and agents.”
Abo u t W ri gh t N a t i on a l F loo d In s ur a nc e Company
Wright National Flood Insurance Company, the largest flood insurance provider in the nation and a wholly owned subsidiary of Brown & Brown, Inc., offers federal, excess and private flood insurance with leading industry expertise, rated A- (Excellent) by A.M. Best. Wright Flood takes pride in user-friendly technology, exceptional claims reputation and providing service clients deserve. Wright Flood enjoys a strong reputation for excellence with FEMA and participates on industry councils and advisory boards in Washington, D.C. to strengthen the flood program that serves 5.6 million flood policyholders. Agents and consumers may visit us at www.wrightflood.com and wrightfloodadvice.org. To find an agent, call (866) 373-5663.
Keywords for this news article include: Business, Mergers and Acquisitions, Technology, Wright National Flood Insurance Company.
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