That program-level uncertainty comes against a Hawaiian property market already under significant pressure. Carriers have rapidly increased risk and pulled back capacity since the August 2023 Maui wildfires, which caused more than $3 billion in insured losses, with some homeowners seeing premiums increase 32% to 54% compared to last year. Back-to-back Kona low hurricanes in March and April brought flooding, mudslides and mudslides across the islands, putting renewed pressure on the market, where hundreds of thousands of Hawaii properties are not currently eligible for flood insurance, according to a recent Insurance Fairness Project report. Against that backdrop, the continuation of NFIP servicing FICOH’s flood book – one of the largest in the state – takes on added importance for agents and policyholders operating in an already disrupted market.
Wright Flood expands into Hawaii with FICOH acquisition & more related News Here
