OREANDA-NEWS. December 18, 2015. NFS Edge Insurance Agency, Inc. (“NFS Edge”), a unit of Aon National Flood Services, Inc., through its Insurmark division is launching a new private flood insurance alternative to the Residential Condominium Business Association Package (RCBAP), tailored to meet the needs of condo associations located in high flood risk areas. The NFS Edge private alternative delivers the deepest level of coverage available for small to mid-sized condominium associations at a competitive rate.

“Agents tell us their clients’ biggest pain point is the constant increase in the cost of their condo association flood insurance policy. And because condo associations have had only one option for coverage until now, they had no way to manage their costs,” said Timothy McCoy, managing director, NFS Edge. “Our private alternative gives agents and their clients a much needed option.”

Created for condo associations of up to \\$50 million in value, the private alternative offers \\$5 million in primary flood coverage, a significant increase over the RCBAP, with excess options available. Unlike many policies, the private alternative is designed for associations in high risk and coastal areas.  Additionally, this product frequently requires less information and is easier to underwrite and quote the coverage, saving agents and associations valuable time.

“Our private alternative helps remove some of the hassle that comes with managing flood insurance,” said McCoy.  “Experiencing a flood can be overwhelming for condo associations because they’re dealing with a wide range of damage -- from property to common area to individual units -- and multiple owners. We believe flood insurance shouldn’t add to that stress.”