Skyward partners with reThought to enhance flood coverage

Skyward Specialty Insurance Group, the specialty property and casualty insurer, has formed a new partnership with reThought Insurance Corporation, a technology and underwriting company.

reThought has developed what it claims to be the industry’s most sophisticated proprietary flood risk assessment technology, which now combines with Skyward’s commercial property experience.

reThought’s proprietary underwriting methodology and risk assessment technology allows users to visualise, assess, underwrite and price commercial flood coverage for complex risks. Coverage is available through a select group of partner distributors, for a broad range of classes, with primary and excess limits of up to $20 million per risk and $100 million for replacement values available.

Andrew Robinson, chief executive officer (CEO) of Skyward Specialty, said: “Through our partnership with reThought, we can provide our brokers and commercial property owners with a market-leading risk transfer solution for their flood exposures.”

Cory Isaacson, CEO at reThought, said: “We have the most advanced data and technology solution to understand, price, and deliver insurance products for commercial flood risk – we are now at an inflection point to serve this market at a time when the need is greatest and existing insurance options are insufficient.”

He called Skyward Specialty “a genuinely unique partner that can understand and amplify the power of the solutions we have built.”

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