Floodbase, a flood intelligence platform, has expanded its partnership with Amwins, a specialty insurance distributor, to create a municipal flood insurance program for California municipalities.

The program, backed by an A+ AM Best-rated carrier, provides coverage against atmospheric river flooding. It also provides rapid access to capital for emergency response, loss of tax revenue mitigation, residential rebuilding, and public infrastructure repair.

The insurance solution uses parametric payouts that scale with the magnitude of the flood, filling a significant coverage gap for California's public sector. It aims to provide financial protection against the increasing threat and cost of atmospheric river flooding in the state.

Analyst QuickTake: In August 2024 , Floodbase partnered with Amwins to launch the Tees-to-Green flood insurance program for US golf courses. The program, expected to launch in 2024, uses Floodbase's AI monitoring technology to provide flood coverage for business interruption and course damage. This fills the gaps in existing flood insurance for golf courses by offering reimbursement for lost revenue and repair costs.