FTP obtains Coastal Flood Underwriters to strengthen flooding insurance policy

FTP, a New Jersey- based handling basic company (MGA), has actually gotten Coastal Flood Underwriters for a concealed amount.

FTP anticipates the procurement to improve its flooding insurance policy services throughout the United States.

Set up in 2017, Coastal Flood Underwriters was established by Paul Papangelou, that has competence in underwriting, danger administration and across the country company training.

The firm uses flooding insurance policy services, standing for greater than 19 personal flooding insurance companies and the National Flood Insurance Program (NFIP) and offering customers in 28 US states.

Coastal Flood Underwriters head of state and chief executive officer Paul Papangelou stated: “Joining forces with FTP, INC. marks an exciting new chapter. Our shared commitment to innovation and customer-focused flood insurance solutions makes this partnership a natural fit. With FTP’s resources and expertise, we will continue providing agents and clients with the best possible flood coverage options, ensuring that communities and businesses remain protected against increasing flood risks.”

FTP head of state Frank Powell mentioned: “At FTP, we are always looking for opportunities to invest in organisations that bring exceptional knowledge and service to the insurance marketplace. Coastal Flood Underwriters has demonstrated a remarkable ability to deliver flood insurance solutions nationwide. This partnership allows us to enhance our capabilities and better serve our clients in an evolving risk environment.”

Later this month, FTP strategies to present its Flood Platform, a relative system that will certainly incorporate FTP’s very own handled flooding program with various other market flooding items.

FTP, which is headquartered in Old Bridge, New Jersey, has actually been a service provider of specialized insurance policy services given that 1957.

With accessibility to greater than 100 service provider companions nationwide, FTP uses individual and industrial insurance policy items on both a confessed and non-admitted basis.

“FTP acquires Coastal Flood Underwriters to bolster flood insurance ” was initially developed and released by Life Insurance International, a GlobalData possessed brand name.

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