DUAL improves online platform for primary and excess flood

DUAL North America has announced improvements to its online rating platform, WebRater, for primary and excess flood to simplify and enhance the online quoting experience for brokers. The update makes WebRater easier to use, requires fewer keystrokes, and allows higher hit ratios with access to multiple underwriting program options, DUAL said.

The platform creates an instant and bindable premium quotation with e-signature, surplus lines and tax-filing capabilities, as well as online payment options through ePay Policy. DUAL will offer a choice-driven program offering primary flood limits up to US$5 million (around CA$6.24 million) and additional excess flood up to US$45 million. Each program will have a different underwriting appetite, increasing property location eligibility estimated at 25%.

The company’s primary and excess flood insurance products will offer:

• AM Best A-rated carriers
• Deductibles as low as US$1,000
• Nationwide non-admitted coverage
• Competitive rates against the renewing NFIP policy
• Replacement cost loss adjustment
• Business interruption/loss of rents
• Additional living expense
• No elevation certificate necessary on certain risks
• Basement coverage available on certain risks
• Lender acceptance of policy working
• The ability to schedule multiple locations in one policy
• Manual review of properties with negative elevations
• Excess flood with blanket coverage over program sub-limits

“It is undoubtedly an exciting and turbulent time in the flood insurance market,” said Patrick Small, president of DUAL Specialty Flood. “At DUAL, we are committed to providing our partners with the best service and information throughout the market changes. The new enhancements to the online rating platform will allow us to provide our brokers easier and more comprehensive access to flood insurance options than ever before.”