What is a Flood / Flood Exposure
Flood (definition used by the National Flood Insurance Program) |
A general and temporary condition of partial or complete inundation of two or more acres of normally dry land area or of two or more properties (at least one of which is your property). |
Flood Exposure |
Floods can be caused by exceptionally heavy rainfall, rapidly melting snow and ice, overflowing or breaking of dams or levees. Losses frequently include injury, death and substantial property damage. Flood insurance is a target for adverse selection. The demand for flood insurance comes from people living in river basin areas and lowlands They are likely to have flood losses at some point, and they seek coverage. |
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