Year-round storms bring an increased risk of flooding to the doorsteps of property owners across Virginia.
Some inland Virginians have learned firsthand in recent years about the devastating toll of flooding. However, changes in the market for flood insurance could mean some will be ill-prepared when the water rises.
Matthew Thompson, vice president and business insurance sales leader at Marsh McLennan Agency, spoke with Virginia Business about the effects of national flood insurance changes statewide.
“The flood insurance market for commercial properties is seeing carriers raise deductibles and pricing so they won’t be impacted as much by catastrophic events,” said Matthew.
Read the full article to learn more.
