Though the risk of flooding is undeniable, a survey by Chubb of brokers with middle-market commercial clients revealed just 16% of them say more than half their clients buy flood insurance.
Furthermore, 65% of the more than 330 brokers surveyed said they believe less than half of clients need flood insurance even though the peril has drastically increased in frequency and severity to become the most common and costliest natural disaster. About 90% of U.S. natural disasters involve flooding.
