--- title: Proper Flood Insurance is Coming description: The Risks of Hazard has, for a few years now, been advocating that the insurance industry needs to start closing the protection gap on US flood. image: https://www.goinsitepro.com/hubfs/Risks%20of%20Hazard%20Blog%20Posts/Ivan's%20Blog%20-%2003-15.jpg --- [![InsitePro Logo](https://www.goinsitepro.com/hs-fs/hubfs/InsiteProGlobe-with-text-web-2.png?width=500&name=InsiteProGlobe-with-text-web-2.png "InsitePro Logo")](https://www.goinsitepro.com/) [![InsitePro Logo](https://www.goinsitepro.com/hs-fs/hubfs/insitepro_2018/images/InsitePro4%20(1).png?width=500&name=InsitePro4%20(1).png "InsitePro Logo")](https://www.goinsitepro.com/) [Contact Us](http://www-goinsitepro-com.sandbox.hs-sites.com/contact-us) | [+1 877-837-7246](tel:+1%20877-837-7246) - [Why InsitePro](https://www.goinsitepro.com/why-insitepro) - [Flood](https://www.goinsitepro.com/flood-insurance) - [Wildfire](https://www.goinsitepro.com/wildfire-insurance) - [Retail Agents](https://www.goinsitepro.com/retail-agents) - [About](https://www.goinsitepro.com/about-intermap) - [Blog](https://www.goinsitepro.com/blog) ## Proper Flood Insurance is Coming Posted at Mar 14, 2017 8:00:00 AM by [Ivan P. Maddox](https://www.goinsitepro.com/blog/author/ivan-p-maddox) - [Tweet](https://twitter.com/share) ![Ivan's Blog - 03-15](https://www.goinsitepro.com/hubfs/Risks%20of%20Hazard%20Blog%20Posts/Ivan's%20Blog%20-%2003-15.jpg) The Risks of Hazard has, for a few years now, been advocating that the insurance industry needs to start closing the protection gap on US flood. To do that, it will be necessary for insurers to begin covering risks beyond the NFIP (not just replacing it). Well, there is a carrier that has filed flood rates in California. The first of the wave is here! The Palomar Specialty Insurance Company has become the first (that I am aware of) carrier to file flood rates that are independent of NFIP rates. Others have filed rates that are pegged or referenced to NFIP rates, but none before Palomar have set their own rates. Right on! They are making a move that can be simultaneously instructive for the insurance industry AND can help society. Every year, so many of the homes damaged by flood in the US are not covered by NFIP policies, and that puts unnecessary strain on the homeowners AND society in general. Palomar, with their Flood Guard product, is doing something that will eventually alleviate that strain.  Beyond making a difference to society, Palomar is onto a sound strategy to grow premium by offering Flood Guard along with their quake coverage. Those two perils bundle nicely, since they are uncorrelated. Growing cat business across perils in addition to across geography adds another dimension to their potential to safely collect more premium. Frankly, it’s a surprise they’re the first, and it only happened a few months ago.  Hopefully others follow Palomar into this space, both in California and beyond. But they will always be first (if they are not first, please leave a comment), and for that they need to be heralded.  Topics: [Flood Insurance](https://www.goinsitepro.com/blog/topic/flood-insurance), [Insurance News](https://www.goinsitepro.com/blog/topic/insurance-news) ### Comment Form ![sidebar-bg](https://www.goinsitepro.com/hs-fs/hubfs/sidebar-bg.jpg?width=280&name=sidebar-bg.jpg "sidebar-bg") # The Risks of Hazard Blog Welcome to The Risks of Hazard, brought to you by Intermap Technology. From the latest industry news and trends, to insight from thought leaders around the globe, stay tuned for a variety of content aimed at helping you better understand the role of location-based intelligence in the world of insurance underwriting and risk assessment. ![sidebar-bg](https://www.goinsitepro.com/hs-fs/hubfs/sidebar-bg.jpg?width=280&name=sidebar-bg.jpg "sidebar-bg") ### Subscribe to the Risks of Hazard blog! ![sidebar-bg](https://www.goinsitepro.com/hs-fs/hubfs/sidebar-bg.jpg?t=1539078502257&width=280&name=sidebar-bg.jpg "sidebar-bg") ### Posts by Tag - [Flood Insurance (60)](https://www.goinsitepro.com/blog/tag/flood-insurance) - [Insurance Underwriting (60)](https://www.goinsitepro.com/blog/tag/insurance-underwriting) - [Risk Management (41)](https://www.goinsitepro.com/blog/tag/risk-management) - [Flood Risk (39)](https://www.goinsitepro.com/blog/tag/flood-risk) - [Insurance Protection Gap (29)](https://www.goinsitepro.com/blog/tag/insurance-protection-gap) - [Flood Modeling (27)](https://www.goinsitepro.com/blog/tag/flood-modeling) - [Property Insurance (26)](https://www.goinsitepro.com/blog/tag/property-insurance) - [Natural Catastrophe (25)](https://www.goinsitepro.com/blog/tag/natural-catastrophe) - [Natural Hazard Risk (25)](https://www.goinsitepro.com/blog/tag/natural-hazard-risk) - [Private Flood (25)](https://www.goinsitepro.com/blog/tag/private-flood) - [InsitePro (21)](https://www.goinsitepro.com/blog/tag/insitepro) - [Floods (19)](https://www.goinsitepro.com/blog/tag/floods) - [Insurance Technology (17)](https://www.goinsitepro.com/blog/tag/insurance-technology) - [Wildfire (17)](https://www.goinsitepro.com/blog/tag/wildfire) - [Insurance Software (16)](https://www.goinsitepro.com/blog/tag/insurance-software) - [Risk Scoring (14)](https://www.goinsitepro.com/blog/tag/risk-scoring) - [Effective Underwriting (13)](https://www.goinsitepro.com/blog/tag/effective-underwriting) - [Earthquake (12)](https://www.goinsitepro.com/blog/tag/earthquake) - [Other Risk Models (11)](https://www.goinsitepro.com/blog/tag/other-risk-models) - [NFIP (10)](https://www.goinsitepro.com/blog/tag/nfip) - [Risk Models (8)](https://www.goinsitepro.com/blog/tag/risk-models) - [Hurricane (7)](https://www.goinsitepro.com/blog/tag/hurricane) - [Houston (6)](https://www.goinsitepro.com/blog/tag/houston) - [Big Data (5)](https://www.goinsitepro.com/blog/tag/big-data) - [Flood News (5)](https://www.goinsitepro.com/blog/tag/flood-news) - [Innovation in Insurance (5)](https://www.goinsitepro.com/blog/tag/innovation-in-insurance) - [Insurance News (5)](https://www.goinsitepro.com/blog/tag/insurance-news) - [Cloud Computing (4)](https://www.goinsitepro.com/blog/tag/cloud-computing) - [Hail (4)](https://www.goinsitepro.com/blog/tag/hail) - [Underwriting Profit (4)](https://www.goinsitepro.com/blog/tag/underwriting-profit) - [FEMA (3)](https://www.goinsitepro.com/blog/tag/fema) - [Insurance Disruption (3)](https://www.goinsitepro.com/blog/tag/insurance-disruption) - [Location-Based Intelligence (3)](https://www.goinsitepro.com/blog/tag/location-based-intelligence) - [Terrain Data (3)](https://www.goinsitepro.com/blog/tag/terrain-data) - [Analytics (2)](https://www.goinsitepro.com/blog/tag/analytics) - [Blogs (2)](https://www.goinsitepro.com/blog/tag/blogs) - [California (2)](https://www.goinsitepro.com/blog/tag/california) - [Fire Insurance (2)](https://www.goinsitepro.com/blog/tag/fire-insurance) - [Geocoding (2)](https://www.goinsitepro.com/blog/tag/geocoding) - [Agreement (1)](https://www.goinsitepro.com/blog/tag/agreement) - [Canada Flood Risk (1)](https://www.goinsitepro.com/blog/tag/canada-flood-risk) - [Conference (1)](https://www.goinsitepro.com/blog/tag/conference) - [Coverholders (1)](https://www.goinsitepro.com/blog/tag/coverholders) - [Data Management (1)](https://www.goinsitepro.com/blog/tag/data-management) - [Data and Models (1)](https://www.goinsitepro.com/blog/tag/data-and-models) - [GAO (1)](https://www.goinsitepro.com/blog/tag/gao) - [Global Flood Map (1)](https://www.goinsitepro.com/blog/tag/global-flood-map) - [Government (1)](https://www.goinsitepro.com/blog/tag/government) - [Inside Intermap (1)](https://www.goinsitepro.com/blog/tag/inside-intermap) - [Pipeline Operations (1)](https://www.goinsitepro.com/blog/tag/pipeline-operations) - [Survey (1)](https://www.goinsitepro.com/blog/tag/survey) - [Technologies (1)](https://www.goinsitepro.com/blog/tag/technologies) - [Top Ten (1)](https://www.goinsitepro.com/blog/tag/top-ten) - [Top Three (1)](https://www.goinsitepro.com/blog/tag/top-three) see all [![InsiteProGlobe-with-text-web-1](https://www.goinsitepro.com/hs-fs/hubfs/InsiteProGlobe-with-text-web-1.png?width=1062&name=InsiteProGlobe-with-text-web-1.png "InsiteProGlobe-with-text-web-1")](https://www.goinsitepro.com/) ©2026 Intermap Technologies®. All rights reserved. - [Legal](https://www.goinsitepro.com/intermap-legal-information) - [Disclaimer](https://www.goinsitepro.com/disclaimer) - [Terms of Use](https://www.goinsitepro.com/intermap.com-terms-of-use)