{"id":660,"date":"2025-06-26T09:15:00","date_gmt":"2025-06-26T09:15:00","guid":{"rendered":"http:\/\/fictionuncovered.com\/?p=660"},"modified":"2025-06-26T15:37:04","modified_gmt":"2025-06-26T15:37:04","slug":"descartes-expands-us-flood-coverage-with-new-parametric-insurance-offering","status":"publish","type":"post","link":"http:\/\/fictionuncovered.com\/index.php\/2025\/06\/26\/descartes-expands-us-flood-coverage-with-new-parametric-insurance-offering\/","title":{"rendered":"Descartes expands US flood coverage with new parametric insurance offering"},"content":{"rendered":"

This content is copyright to www.artemis.bm<\/a> and should not appear anywhere else, or an infringement has occurred.<\/p>\n

Descartes Underwriting, the parametric risk transfer specialist, has announced the launch of a new fully customisable Flood-at-Location parametric flood insurance product for U.S. commercial customers.
\n<\/span>
\n\"descartes-underwriting-logo\"Backed by extensive research in flood modeling and advanced sensor systems, Descartes explained that its new offering upends the traditional approach to flood insurance, aiming to deliver better protection for businesses, investors, and homeowners associations.<\/p>\n

According to the firm, the product provides coverage for any economic losses resulting from fluvial, pluvial and coastal flooding, with limits of up to $70 million available. Descartes also explained that payment is usually received by the insured within days.<\/p>\n

Additionally, coverage can be tailored for one or more locations, and policies can be structured with flexible durations to match project timelines or client preferences, including multi-year terms.<\/p>\n

\u201cAdditionally, any type of business and industry class may be covered. Any economic loss sustained is insured, including property damage, business interruption, and extra expenses. No direct physical damage is required to trigger a payout,\u201d Descartes noted.<\/p>\n

The firm continued: \u201cMost importantly, companies with high historical flood losses\u2013oftentimes facing the toughest renewal conditions\u2013gain access to a customized, stable insurance solution. Policies are available in the surplus lines market in all 50 states.\u201d<\/p>\n

\u201cFlood is often excluded or sub-limited in regular property policies and therefore may require stand-alone flood coverage. Flood-at-Location from Descartes is a superb supplement to Property All Risks insurance. It provides coverage for risks which the National Flood Insurance Program (NFIP) excludes (such as docks, piers, etc.) and can be designed to respond in excess of NFIP\u2019s $500,000 limit, with a cost-efficient structure,\u201d Descartes further explained.<\/p>\n

Daniel Vetter, Head of Americas for Descartes, commented: \u201cThis responsive and remarkable new product delivers unparalleled, flexible flood coverage for commercial properties. For all the reasons that conventional insurance for flood is sometimes unsatisfactory\u2013slow claims payments, exclusions, sub-limits, or a lack of availability\u2013this parametric product will fill the existing gap we\u2019re seeing in the market.\u201d<\/p>\n

Kevin Dedieu, Co-founder and Chief Scientific Officer of Descartes, said: \u201cThis market-leading coverage follows intensive research and development conducted by Descartes in-house and with our technology partners. We developed this product because our brokers shared with us that commercial flood products available at the time did not meet their clients\u2019 needs. We utilized our scientific approach to create this new, highly responsive product which leaves no gaps uninsured.\u201d<\/p>\n

Descartes expands US flood coverage with new parametric insurance offering<\/a> was published by: www.Artemis.bm<\/a>
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This content is copyright to www.artemis.bm and should not appear anywhere else, or an infringement has occurred. Descartes Underwriting, the parametric risk transfer specialist, has announced the launch of a new fully customisable Flood-at-Location parametric flood insurance product for U.S. commercial customers. Backed by extensive research in flood modeling and advanced sensor systems, Descartes explained […]<\/p>\n","protected":false},"author":1,"featured_media":333,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[20],"tags":[],"_links":{"self":[{"href":"http:\/\/fictionuncovered.com\/index.php\/wp-json\/wp\/v2\/posts\/660"}],"collection":[{"href":"http:\/\/fictionuncovered.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/fictionuncovered.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"http:\/\/fictionuncovered.com\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"http:\/\/fictionuncovered.com\/index.php\/wp-json\/wp\/v2\/comments?post=660"}],"version-history":[{"count":2,"href":"http:\/\/fictionuncovered.com\/index.php\/wp-json\/wp\/v2\/posts\/660\/revisions"}],"predecessor-version":[{"id":662,"href":"http:\/\/fictionuncovered.com\/index.php\/wp-json\/wp\/v2\/posts\/660\/revisions\/662"}],"wp:featuredmedia":[{"embeddable":true,"href":"http:\/\/fictionuncovered.com\/index.php\/wp-json\/wp\/v2\/media\/333"}],"wp:attachment":[{"href":"http:\/\/fictionuncovered.com\/index.php\/wp-json\/wp\/v2\/media?parent=660"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/fictionuncovered.com\/index.php\/wp-json\/wp\/v2\/categories?post=660"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/fictionuncovered.com\/index.php\/wp-json\/wp\/v2\/tags?post=660"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}