Flood insurance is refer as the specific insurance coverage which is against property loss from flooding. Insurers often refer to the topographical maps which denote lowlands, floodplains and flood-ways that are susceptible to flooding to determine the risk factors for specific properties. Due to the rising threat related to the natural calamities insurance related to the life are been increasing, while there are some threats as well which are associated with the flood insurance, which is due to the trust factor and also there is low awareness about the flood insurance in some of the under developed locations.
According to AMA, the Global Flood Insurance market is expected to reach USD17600.0 Million by 2024 growing at a CAGR of 17.6%.
Rising inclination towards different capital investment
High volume industrialised countries and Global economic growth
Lack of information towards the under developed location
The key Players profiled in the report are Allianz (Germany), Zurich Financial Services (Switzerland), Allstate (United States), Tokio Marine (Japan), Assurant (United States), Chubb (United States), PICC (China), Sompo Japan Nipponkoa (Japan), CPIC (China) and PingAn (China). Additionally, other players that are of this comprehensive study are Berkshire Hathaway (United States), Suncorp (Australia), Progressive (United States) and American Strategic (United States).