Neptune Flood says it will continue writing policies if government shuts down.
If the federal government shuts down on Sept. 30, flood insurance provider Neptune Flood will continue to write policies in all 48 states and Washington D.C. The NFIP (National Flood Insurance Program) would stop issuing and renewing flood insurance policies during a government shutdown.
Neptune Flood is not affected by a government shutdown and can continue to write policies.
“Neptune strongly encourages Congress to continue to fund the government so that critical FEMA activities, such as the NFIP, can continue to operate, as the NFIP plays a vital role in protecting homeowners from the devastating risks of flooding,” CEO of Neptune Flood, Trevor Burgess, said. “The NFIP is one of the government’s most important programs, and a government shutdown could potentially affect as many as 1,300 daily property sales that depend on the NFIP to issue a required flood insurance policy before it closes.”
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Regardless of the shutdown, Neptune Flood will be prepared to continue to write flood insurance in all 48 states.
Neptune’s coverage limits are also higher than the National Flood Insurance Program (NFIP) and there’s no waiting period on real estate transactions.
“Neptune has the capacity to provide coverage to tens of thousands more American homeowners in the event of a government shut-down,” said Neutune chief customer officer, Jean-Luc Eckstein. “Our team is prepared to support more than 165,000 homeowners and businesses with federally approved private flood insurance and our agents and consumers are ready to support them.”
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Last month, Neptune announced the successful renewal and expansion of its carrier relationships. The company also recently announced the appointment of Matthew Duffy as chief risk officer.
