Biggert-Waters Flood Insurance Reform Act News

Connecticut Residents Feeling Financial Strain as Flood Insurance Cost Rises

People living on Porter Avenue in Middlebury, Conn., face a threat that could put their homes underwater — but it’s not coming from nearby Long Swamp Brook. The rising cost of flood insurance is putting a financial strain on local …

Mississippi Withdrawing Lawsuit Over Flood Insurance Rates

Mississippi’s insurance regulator is withdrawing his lawsuit against the federal government after Congress voted to delay changes to the federal flood insurance program. Mississippi Insurance Commissioner Mike Chaney said he is withdrawing the suit aimed at stopping flood insurance premium …

Jersey Shore Residents Hail Passage of Flood Insurance Relief Bill

Sue Suebelka, who had little fish swimming among the shelves of her new refrigerator, won’t have to pay quite as much for flood insurance. Kim Ely, who still washes dishes in a bucket and eats dinner from a microwave in …

Senate Approves Bill to Curb Flood Insurance Hikes

The Senate today went along with the House of Representatives by passing a bill to reverse flood insurance reforms and curb flood insurance premium increases. The Senate approved H.R. 3370, the “Homeowner Flood Insurance Affordability Act of 2013,” by Sen. …

Mass. Rep. Keating Urges House Approval of Flood Insurance Bill

U.S. Rep. William Keating, D-Mass., is calling for swift passage of a flood insurance bill in the House that would give hundreds of thousands of homeowners a reprieve from higher flood insurance premiums. The Democrat said there’s no reason why …

Private Flood Insurance Provider Steps Into Connecticut Market

A private flood insurance provider has stepped into Connecticut’s market, the first time homeowners along the shoreline battered by Superstorm Sandy have an alternative to increasingly costly federal insurance. The Flood Insurance Agency of Gainesville, Fla., is offering flood insurance …

Homeowners Choice Sells First Flood Policy in Florida

Homeowners Choice Property & Casualty Insurance Co., Inc., a Florida based provider of admitted homeowners insurance and wholly-owned insurance subsidiary of HCI Group, Inc., is now selling flood insurance to existing customers in Florida. Many Florida residents have seen a …

How to Encourage Private Flood Insurance; Why Delaying Biggert-Waters Is Not the Answer

New technologies and a better understanding of flood risk may have increased private insurers’ interest in providing flood insurance but real obstacles remain to the private sector getting involved. The obstacles include political and consumer resistance to full cost-based pricing …

Remapping, Subsidy Loss Raising North Dakota Flood Insurance Costs

Had Greg Larson, a realtor and riverside homeowner in Bismarck, N.D., and his family changed their flood insurance policy, their cost would have gone from $705 a year to $4,200. Increases in flood insurance rates are making some of Bismarck-Mandan’s …

Senate Joins House in Approving Spending Bill with Narrow Flood Insurance Fix

The Senate (72-26) yesterday joined the House of Representatives (359-67) in passing a $1.1 trillion compromise omnibus spending bill that contains a delay for an estimated one quarter of those facing flood insurance premium increases triggered by the Biggert-Waters Flood …