Assurant Specialty Property
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This appetite summary is only a guide. Confirm eligibility, submission requirements, restrictions, and binding authority directly with the carrier or underwriter before relying on it.
Carrier appetite summary
Assurant Specialty Property (part of Assurant) is a major NFIP Write-Your-Own (WYO) carrier and lender‑placed flood provider. Its primary retail/agency-facing flood offerings are: 1) NFIP WYO FLOOD (primary personal & commercial) - Coverage/Forms: Standard NFIP Dwelling and General Property policies; underwriting rules, eligibility, limits, deductibles and mandatory purchase requirements are governed by FEMA/NFIP manuals, not carrier‑specific guidelines. Assurant administers policy issuance, billing and claims. - Risk Appetite: Any risk eligible under NFIP rules is generally acceptable, including residential (1–4 family, other residential) and non‑residential in Regular Program communities. Properties in Special Flood Hazard Areas (SFHAs) follow NFIP elevation, floodproofing, and mandatory purchase standards. - Declined/Restricted: Properties not eligible under NFIP (e.g., buildings in communities not participating or suspended from NFIP, certain severe repetitive loss or substantially damaged structures when NFIP rules prohibit new coverage) are not writable; these are NFIP rule‑driven rather than Assurant discretion. - Geography: Nationwide in participating NFIP communities. No special carrier geographic moratoria are published; all geographic eligibility is tied to NFIP community status. - Submission/Agent Use: Agents quote, rate, and bind using Assurant’s NFIP systems via the Flood Agent portal. All underwriting documentation (elevations, photos, prior loss history) must meet NFIP requirements; Assurant provides tools, training webinars, and agent support but does not materially change NFIP rules. Agents must follow current NFIP manuals for underwriting, reformation, cancellations, and endorsements. - Broker/Producer Notes: Assurant positions itself as a support partner for agents selling standardized NFIP products and offers agent training and marketing support. Agents are directed to use the Assurant agent portal and self‑service tools and may contact the Flood Service Center for assistance. 2) LENDER‑PLACED (CREDITOR‑PLACED) FLOOD - Target Business: Flood coverage placed on mortgaged properties when borrowers fail to maintain required flood insurance. Business is written via master/portfolio arrangements with mortgage lenders and servicers, not individual producers. - Underwriting Approach: Not individually underwritten per property; policies are automatically issued when underlying required coverage lapses, under contractual arrangements with financial‑institution clients. Pricing is developed to reflect higher lapse‑driven risk and is not based on retail risk‑selection at the property level. - Restricted/Declined: Individual retail submissions are not accepted; access is limited to institutional lender/servicer clients. Consumers or retail agents looking for voluntary coverage must use NFIP or private flood markets rather than lender‑placed programs. - Geography: Nationwide for participating lender clients, subject to regulatory and contractual constraints. - Producer Notes: Independent retail agents generally do not place lender‑placed flood directly with Assurant; these programs are administered centrally for lender clients. 3) PRIVATE & EXCESS FLOOD - Private Flood Appetite: Assurant historically offered private residential flood but has non‑renewed certain private residential books; current emphasis is on NFIP, commercial, and excess/portfolio solutions rather than broad, open‑broker residential private flood. Retail availability varies and is typically not published as an open appetite guide. - Commercial / Excess: Assurant maintains specialist underwriting capability for large commercial and residential schedules and complex flood risk, including reinsurance and modeling functions. These placements are often accessed through specialty brokers or program channels rather than standard retail markets. - Restricted/Declined: Mass-market stand‑alone residential private flood is limited; many such policies have been non‑renewed. Retail agents should not assume open‑market availability for new residential private flood placements with Assurant. - Submission Requirements: Where private or excess products are available, submissions are typically routed through appointed specialty brokers or specific program interfaces; detailed schedules and technical risk data will be required for large/complex risks. No public line‑by‑class underwriting grid is published. AGENT / PRODUCER ADMINISTRATION & LICENSING - Agent Access: Current agents interact via the Flood Agent Login portal for rating, binding, and policy service. Access is limited to registered/appointed agents. - New Agent Enrollment: Prospective agents must submit an online or email request to become an Assurant flood agent. The licensing department requires agency information including Assurant agency code(s); the agency must attest that producers are in good standing and that criminal background checks have been completed. - Operational Notes: Assurant emphasizes centralized service through its Flood Service Center and agent support teams. Producers are directed to contact these resources for technical underwriting questions, policy changes, and claims coordination, but must remain compliant with all NFIP rules and any state licensing requirements. Because NFIP products are standardized and lender‑placed programs are portfolio‑driven, there is no public, carrier‑specific class‑by‑class underwriting appetite (e.g., preferred versus substandard occupancies). Eligibility and terms for NFIP business are determined primarily by FEMA/NFIP manuals; lender‑placed and private/excess flood are controlled via institutional or specialty broker agreements rather than open published appetites.