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Munich Reinsurance America, Inc., has introduced a new personal lines inland flood insurance product for homeowners in low-to-moderate-hazard flood zones.

“Our innovation around flood coverage is designed to address an underserved market, particularly given the increased risk of flooding due to more intense annual precipitation over the last decades,” said Steve Levy, the president of Munich Re America’s reinsurance division. “This product is an attractive alternative for non-coastal homeowners looking for competitively priced, lower-limit coverage to protect their homes and personal property. It is a first step into the private flood insurance marketplace, and one we are taking cautiously and deliberately.”

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