(West Palm Beach, FL) - Flood Zone Correction, Inc. (FZC), the nation’s first flood zone correction company, helps commercial property owners prevent uninsured losses and more accurately project flood insurance costs resulting from flood zone changes and levee decertification with the launch of its Portfolio Review Service. This proactive program examines every building in a client’s portfolio to ensure proper allocation of flood insurance dollars.
For many commercial property owners, uninsured losses are the result of erroneous low-risk flood zone determinations and/or learning about map changes too late, which put their building(s) in the flood zone for the first time. The Federal Emergency Management Agency (FEMA) expects to update over 80,000 flood map panels in more than 20,000 communities by 2010. Further, according to many experts, a majority of the nation’s levee systems face decertification. When that happens, many low-risk zones will change into high-risk zones with mandatory flood insurance purchase requirements. Both problems cost property owners a significant amount of money, decrease property values and reduce cash on hand that could otherwise fund additional real estate investments.
“FZC developed its Portfolio Review Service to provide property owners and/or operators with one or more buildings a foundation of accurate flood risk information and to prevent a detrimental impact upon net operating income,” states Dan Freudenthal, president of FZC. He continues, “Finding erroneous low-risk determinations before a loss occurs can save a property owner hundreds of thousands or millions of dollars annually, allowing the property owner to place NFIP (National Flood Insurance Program) policies on applicable buildings to prevent uninsured losses. Finding erroneous high-risk determinations allow the property owner to reallocate funds to purchase flood policies on other buildings that truly need flood policies. We encourage all commercial property owners to conduct a comprehensive flood risk review of properties in their portfolio.”
For more information on FZC’s Portfolio Review Service, call 1.877. FLOOD ZONE (1.877.356.6396)
Flood Zone Correction, Inc. is a proactive risk management company specializing in the thorough evaluation of flood risk. FZC’s services enable property owners, insurance agencies and brokers, risk managers and other third parties to understand the true flood risk of a building, to make educated flood insurance decisions, and to obtain the most value for every dollar spent on flood coverage. FZC maintains its headquarters in West Palm Beach, FL.
