September 10 / Press Release


New York, September 10, 2015 – Torrent Technologies, Inc., a Marsh company, in coordination with Torrent’s Write-Your-Own (WYO) carriers participating in the National Flood Insurance Program (NFIP), announce today the availability of a new excess flood insurance solution that combines broad coverage with real-time quoting and binding functionality.

Underwritten by Lloyd’s of London coverholder DUAL Commercial LLC, Torrent/DUAL Excess Flood provides up to $15 million in insurance protection above NFIP limits for residential and commercial property owners and up to $20 million in coverage for condominium owners. Limits are written on a per risk basis and can cover damage to buildings and contents. Other coverage options, including loss of income/rents and earthquake, are also available to policyholders. Unlike other excess flood options that are manually underwritten, Torrent/DUAL Excess Flood is offered via Torrent’s state-of-the-art flood platform, allowing insurance agents to quote, bind, and issue policies in real time. The automated claims adjusting process is handled hand-in-hand with the NFIP claims review to enable consistency and promptness of recovery.

“The upcoming anniversary of Superstorm Sandy is a stark reminder of how a major storm can quickly erode flood coverage purchased through the NFIP, leaving home and business owners financially exposed to millions of dollars in losses,” said Ian Macartney, Marsh’s Flood Insurance Services Practice leader. “With Torrent/DUAL Excess Flood coverage, Torrent’s WYO carriers and insurance agents can offer their NFIP clients a comprehensive excess flood insurance solution, giving them peace of mind quickly and efficiently.”

Patrick Small, managing director of DUAL Specialty Property, added: “Flooding is the number one natural disaster in the US, causing billions of dollars in damage to hundreds of thousands of businesses and homes annually. We are pleased to work with Torrent and its WYO carriers to offer additional capacity to property owners seeking a more comprehensive solution in conjunction with the NFIP.”

Under the NFIP, commercial property owners can purchase up to $500,000 in building and $500,000 in content coverage, while residential property owners can purchase up to $250,000 in building coverage and up to $100,000 in content coverage.

Torrent/DUAL Excess Flood is available in all 50 states.