Explore the benefits of the latest PL Rating update
Written by: Helene Kwong, Product Marketing Coordinator
Your favorite rating product, PL Rating, received a few key upgrades in last month’s 20R2 release. A few of these new features include: home UI consolidation questions in 30 states, Michigan PIP regulatory changes, and third-party integrations. The biggest development in this release is Vertafore’s partnership with Aon Edge, a private flood insurance provider.
Introducing Private Flood Insurance Options
In previous versions of PL Rating, you were able to receive a flood quote from the National Flood Insurance Program (NFIP) alongside homeowners’ insurance rates. While the NFIP is a good option for many, it doesn’t cover every need. Analysts and ISO have predicted a significant $40 billion market opportunity in the private flood market. In the PL Rating20R2 release, you can now quote private flood insurance through Aon Edge’s EZ Flood integration within PL Rating.
With private flood insurance, you can:
- Save your clients an average of 40% on premiums vs. the NFIP
- Provide fully customizable coverage limits and deductible options
- Include optional coverage for additional living expenses (ALE), food spoilage, and swimming pool clean-up
To learn more about how to get started quoting private flood insurance (plus learn about other PL Rating 20R2 release highlights), view our PL Rating 20R2 Release Webinar: How to quote private flood with PL Rating and Aon Edge, available on-demand.