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Flood Insurance

Writing Private Flood Insurance

Florida law facilitates and simplifies an insurer’s ability to develop private flood insurance policies within the state. The Florida Office of Insurance Regulation (OIR) encourages insurers to consider writing private flood insurance in the marketplace to provide additional options for Florida consumers.

How to Become a Flood Writer in Florida


OIR has streamlined form and rate filing procedures to help make private flood insurance products available on the market quickly for consumers.

To become a private flood insurance writer in Florida, a company must first be licensed to write business in this state. Visit OIR’s Company Admissions site here for information on becoming a licensed Property and Casualty insurer in Florida.

For insurers already licensed in Florida, private flood insurance coverage can be written as a stand-alone flood policy under the Allied Lines line of business or as an endorsement to a Personal Residential policy.

Insurers seeking to write private flood insurance in Florida outside of the National Flood Insurance Program (NFIP) can write:

  • Primary flood insurance; or
  • Excess flood insurance.

Florida law requires most flood insurance policy types to be at least as broad as the NFIP, provides flexibility in flood coverages provided, and allows insurers to develop customized flood coverage. In addition, Florida law suspends some requirements allowing surplus lines agents to export flood coverage without demonstrating that coverage is available from licensed insurers.

Insurers writing private flood insurance in Florida voluntarily participate in data and loss ratio collection efforts.

Section 627.715, Florida Statutes, establishes guidelines for filings made to OIR by an insurer wanting to provide private flood insurance in Florida.

Filing Rates and Forms


There are five types of flood coverage that may be written, and these coverages are defined in section 627.715, Florida Statutes. These types include:

  • Standard flood insurance;
  • Preferred flood insurance;
  • Customized flood insurance;
  • Flexible flood insurance; and
  • Supplemental flood insurance.

The Standard, Preferred, and Customized types of flood coverage must be at least as broad as the coverage offered by NFIP.

Insurers may request OIR to certify that a policy, contract, or endorsement provides coverage for the peril of flood which equals or exceeds flood coverage offered by the NFIP. The certification ensures policies meet or exceed NFIP coverage.

Note that section 627.715, Florida Statutes, does not apply to the commercial lines market. Commercial non-residential property rates (including that for flood coverage) are informational due to a separate provision of Florida law. For commercial flood coverage, the insurer has the option to file the forms as informational pursuant to section 627.4102, Florida Statutes.

Rates


Insurers can offer personal residential flood insurance coverage that meet the requirements of section 627.715, Florida Statutes. Insurers may either submit rate filings for full review and approval by OIR or, until Oct. 1, 2025, submit the filing as informational.

Personal residential flood insurance rates submitted for informational purposes are subject to examination by OIR. If the coverage does not meet the requirements of section 627.715, Florida Statues, the rate filing is subject to full review and approval by OIR.

Where to submit a Rate or Form Filing


Section 627.410, Florida Statutes, requires OIR to approve forms before use. All filings are submitted through OIR’s Insurance Regulation Filing System (IRFS) here.

Questions


OIR has created a dedicated team to assist companies with writing private flood insurance in Florida. To contact to a dedicated team member regarding private flood rate or form filing requirements or financial requirements, please email PrivateFlood@floir.com.

For questions regarding licensure in the state of Florida, please visit OIR’s Company Admission site here. Contact information is available here.

Additional Resources


Federal Emergency Management Agency (FEMA) Flood Manual: https://www.fema.gov/flood-insurance-manual

NFIP Policies: https://www.fema.gov/national-flood-insurance-program/standard-flood-insurance-policy-forms