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The bond protects Axis and its subsidiaries against systemic cyber shocks over a two-year period starting in January.
The federal maps are static and only periodically updated by the Federal Emergency Management Agency.
Both New York and New Jersey have adopted laws requiring the sellers of residential properties to tell buyers, and landlords to tell tenants, about known flood risks.
Insurance industry news from VIU, Pro MGA Global Solutions, CFC and more.
Nearly half of brokers surveyed by Chubb said their clients don't request flood insurance quotes.
The Swiss Re Global Cat Bond Performance Index is up 18%, while the Bloomberg U.S. Treasury Index has dropped about 1%.
While cyber is viewed as the top global risk, the ability to attract talent is becoming a bigger issue.
Verisk reports that insured losses from the storm that socked Europe in early November could reach $1.39 billion.
Policyholders continue to demand more options, automation, and a seamless customer experience.
Non-tornadic gusts such as straight-line winds and derechos are occurring five times more frequently.