Neptune Flood is a private flood insurance business headquartered in St. Petersburg, Florida. It operates as a managing general agent (MGA): it underwrites and administers policies on behalf of a panel of insurance and reinsurance companies — its "capacity providers" — and states in its SEC registration statement that it "does not take any balance sheet insurance risk or have claims handling responsibility relating to the policies" it sells. As of the registration statement, that panel comprised 42 capacity providers, including 34 reinsurance providers, backing 8 distinct insurance programs.
Its product line consists of primary residential and commercial flood insurance, an excess flood product introduced in 2024, and parametric earthquake insurance. Per the same filing, its insurance programs are eligible to write policies in all 50 states and Washington, D.C. Distribution runs overwhelmingly through insurance agents and brokers: 96.8% of its policies in force were placed through agent and broker partnerships, spanning more than 25,000 unique agency codes that have bound a policy. The parent entity, Neptune Insurance Holdings Inc., filed a Form S-1 registration statement with the SEC for an initial public offering.
Company facts
| Headquarters | St. Petersburg, Florida [1] |
|---|---|
| Company type | Managing general agent (MGA) for private flood insurance; risk is borne by its panel of insurer/reinsurer capacity providers [1] |
| Products | Primary flood (residential and commercial), excess flood (introduced 2024), parametric earthquake [1] |
| Where it can sell | Insurance programs eligible to write policies in all 50 states and Washington, D.C. [1] |
| Distribution | 96.8% of policies in force placed through agent/broker partnerships; 25,000+ unique agency codes have bound a policy [1] |
| Relationship to the NFIP | Not an NFIP insurer: not on FEMA's Write Your Own company list. Its private policies are structured around the NFIP form and can supplement or replace NFIP coverage [1] [2] |
| Parent / listing status | Neptune Insurance Holdings Inc.; Form S-1 filed with the SEC for an initial public offering [1] |
Fields without a verified source are omitted rather than estimated, per the site's editorial policy.
Relationship to the NFIP
Neptune sells private flood insurance, not federal policies: it does not appear on FEMA's list of the 48 Write Your Own program insurers, which this site verified page by page. Its S-1 describes its primary and excess flood products as "structured around the NFIP form," usable either to replace an NFIP policy or to sit above one as excess coverage.
Because its policies are private contracts, the federal mechanics documented in this site's guides — the statutory 18% renewal caps, policy assumability rules, and the federal 30-day waiting period — do not govern them; Neptune's contract terms and state insurance law do. Since the 2019 joint federal lending rule, qualifying private policies must be accepted by regulated lenders in satisfaction of the mandatory purchase requirement.
How federal and private coverage differ structurally: NFIP vs. private flood insurance · the Write Your Own program
Frequently asked questions
Is Neptune Flood part of FEMA or the NFIP?
No. Neptune is a private business selling private flood insurance. It is not on FEMA's Write Your Own company list; NFIP data on this site does not include Neptune's policies.
Who actually carries the risk on a Neptune policy?
Per its SEC filing, Neptune is a managing general agent: insurance and reinsurance companies on its capacity panel bear the underwriting risk and handle claims risk transfer, while Neptune underwrites and administers on their behalf.
Can a Neptune policy satisfy a mortgage lender's flood insurance requirement?
Federally regulated lenders must accept private flood policies that meet the Biggert-Waters statutory definition. Whether a specific policy qualifies is stated in the policy's compliance wording and settled by the lender's review.
Does this site publish Neptune premium data?
No. This site's statistics come from federal NFIP records; private insurers' prices are not in those records.
Sources
- Neptune Insurance Holdings Inc., Form S-1 registration statement (SEC EDGAR) — accessed 2026-07-16
- FEMA/NFIP: Write Your Own flood insurance company list (agents.floodsmart.gov) — accessed 2026-07-16