Private insurers and NFIP must work together to close gap

The flood peril is much more fluid and wide-reaching than boundaries on a flood map might suggest. It’s almost a year since Hurricane Harvey dumped record rainfall on the city of Houston, leaving countless properties submerged in murky waters. Many homeowners in the city never thought such a tragedy would happen to them.   “Lots of property owners have an understanding of flood risk that’s just too narrow,” said Matt Junge, senior treaty underwriter, property & specialty, Swiss Re. “They take one point of view, such as a published federal flood map, and they use that to determine whether they’re in a high-risk flood zone or not.