Neptune Insurance Holdings, the largest private flood insurance provider in the U.S., went public on the New York Stock Exchange on Wednesday, trading under the ticker symbol 'NP'. The IPO comes at a strategic time as the U.S. government is in shutdown, which has halted operations of the National Flood Insurance Program (NFIP), preventing new applications and claims. CEO Trevor Burgess emphasized the opportunity to assist homebuyers who require flood insurance, noting that Neptune's underwriting results significantly outperform those of NFIP. The company offers flood insurance coverage up to $7 million, far exceeding NFIP's $250,000 cap. Neptune employs advanced technology, including AI, to assess individual property risks rather than relying on broader geographic data. This approach allows for more accurate pricing and risk evaluation, which Burgess claims is transparent to consumers. A recent study indicated that flooding costs the U.S. between $179.8 billion and $496 billion annually, highlighting the growing need for effective flood insurance solutions.