Californians Purchased 28K New Flood Policies in Anticipation of El Nin᷈o

January 6, 2016

New data from the Federal Emergency Management Agency on National Flood Insurance Program policies shows a big increase in NFIP policies written in California during the month of November 2015, a jump FEMA is crediting to the anticipation of an El Niño slamming the state with storms.

There is a 30- to 90-day period for new policies to be reported to FEMA. The latest available data shows an increase of 28,084 new flood insurance policies purchased in California from August 31 through November 30, 2015.

storm_brewingThat 12 percent increase is the first of its kind in recent history, according to FEMA. The previous reporting period showed that policies increased 3 percent last year from August 31 to October 31.  During that timeframe, 7,181 new federal flood insurance policies were written in California, the FEMA data shows.

FEMA administers the NFIP and works with more than 80 private insurance companies to offer flood insurance to homeowners, renters and business owners.

Related:

Get Insurance Journal Every Day

Add a Comment

Your email address will not be published. Required fields are marked *

*

More News
More News Features