Markel American Insurance, a division of Markel (NYSE:MKL), has unveiled its new Excess Flood program for residential and non-residential properties. The program will be available in Alabama, Arizona, California, Colorado, Mississippi, North Carolina, Oregon, Pennsylvania, South Carolina and Virginia.
The new program provides property owners with coverage in excess of what is offered by the National Flood Insurance Program (NFIP). It will be offered through Advanced Insurance Coverages, a subsidiary of National Flood Services, which is a subsidiary of Fiserv (NASDAQ:FISV).
"NFS is very happy with the relationship we have developed with Markel, and looks forward to a long and mutually beneficial partnership with them,” P. Michael Jones, president of NFS, said in a statement. “The Excess Flood program complements offerings to our clients through the primary flood program, and offers property owners coverage for those exposures above that provided by the NFIP."