Neptune Flood launches program for small business borrowers
May 10, 2021 - Neptune Flood, a St. Petersburg-based insurtech focused on the flood market, is rolling out a flood insurance platform for small and medium-sized businesses. The platform, sbaflood.com, streamlines the purchase process and allows businesses to quote and bind entirely online in under two minutes, Neptune said in a news release. Small Business Administration and other government- backed business loans on property or contents that are in a high-risk or mandatory flood zone require the purchase of flood insurance. Neptune, an alternative to the federal National Flood Insurance Program, has higher building coverage limits than the federal program and offers an optional business interruption cover to help recover from a flood event missing from the NFIP, the news release said. Expanding flood insurance to businesses was one of several goals that Trevor Burgess, Neptune's president and CEO, told the St. Pete Catalyst he expected to achieve this year.