AXA XL Partners with Insurtech Neptune Flood to Expand Private Flood Insurance

By September 12, 2019News

Insurance Journal

AXA XL is partnering with digital private flood insurance program manager Neptune Flood in a strategic underwriting partnership that will more than double Neptune’s capacity across the country.

According to CEO Jim Albert, the new partnership doesn’t change Neptune’s core coverage offering, which includes replacement cost, temporary living expense, basement contents, pool repair/refill and detached structures. Neptune provides limits up to $2 million in coverage for property and $500,000 for contents with a reduced waiting of 10 days vs. the 30-day waiting period under the NFIP. There’s no waiting period for loan transactions.