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Columbus, Ohio - May 4, 2011

Severe weather continues to be a concern for many areas in the United States.  The weather system which leveled parts of the southeast last week also dumped record rainfall from Arkansas to Vermont.  Additional rainfall this week has some concerned about the flooding that is worsening in the Ohio and Mississippi River Valleys.


As standard homeowners, renters or business-owners policies do not cover flood damage, most flood insurance is written through the National Flood Insurance Program, which is administered by the Federal Emergency Management Agency.  Under this program, participating property and casualty insurance companies write standard flood insurance policies and process any associated claims but bear minimal financial risk as the Federal Treasury is ultimately responsible for any underwriting losses.  Policyholders that may be affected by flooding should take comfort in this fact.


Insurers listed as the Top 10 Federal Flood Writers in Direct Premiums Written for 2010 have a thorough understanding of this market.  The companies listed in the Top 10 for this region are all affiliated with well-respected and financially stable groups: Fidelity National, State Farm, Allstate, Hartford Fire and Casualty, Travelers, Assurant, United Service Automobile Association, Selective and Nationwide.


Top 10 Federal Flood Writers
2010 Direct Premiums Written
Countrywide

1.

Fidelity National Indemnity Insurance

$371,048,553

2.

State Farm Fire and Casualty

$317,575,064

3.

Allstate Insurance Company

$300,823,525

4.

Hartford Insurance Company of The Midwest

$281,800,231

5.

Standard Fire Insurance

$205,569,540

6.

American Bankers Insurance Company of FL

$184,227,924

7.

Fidelity National Property and Casualty

$151,762,255

8.

USAA General Indemnity

$122,575,167

9.

Selective Insurance Company of The Southeast

$120,267,839

10.

Nationwide Mutual Fire Insurance

$118,005,045


For the list of the Top 50 Federal Flood Writers Countrywide, click here.


About Demotech, Inc.

Demotech, Inc. is a financial analysis firm located in Columbus, Ohio.  Since 1985, Demotech, Inc. has been serving the insurance industry by providing actuarial consulting and accurate and proven Financial Stability Ratings® (FSRs) for Property & Casualty insurance companies and Title underwriters.  Financial Stability Ratings® (FSRs) are a leading indicator of the financial stability of a company.  Our rating process provides an objective baseline and insight into the future solvency of a company. As an independent financial analysis and actuarial firm, Demotech has a proven track record of predicting financial stability in the insurance industry.  As the first company to have its rating process formally reviewed and accepted by Fannie Mae, Freddie Mac and HUD, Demotech has been leveling the playing field by offering FSRs to insurers of all sizes.


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Contact:
Douglas Powell
Senior Consultant
800-354-7207
Email questions here