What is the product?

Hiscox provides ‘FloodPlus’ in the London market, which continues to address a shortfall in US flood cover for many homeowners and businesses by offering higher limits and a wider scope of cover than policies provided by the existing US government backed NFIP. Hiscox is able to offer attractive pricing for those customers who are minimising their climate risks through our FloodPlus product.

How does it support green outcomes?

Climate change is among the greatest risk facing us all, and so we strive to continually develop new products that address the changing climate-related risks and opportunities. We have worked to try to bridge the insurance gap, and in recent years have focused on devising new ways to help address the lack of adequate flood cover for many homeowners and small businesses.

The FloodPlus product also offers premium discounts for those who take steps to minimise the risk to their property from flood.

How does it enable customers today?

We now serve every US state except Alaska and have over 75,000 policyholders. Our customers are residential homeowners or small business property owners.