Flood Insurance News

Homes, Vehicles Flooded in Sioux Falls

More than half a foot of rain fell in parts of Sioux Falls, S.D., leading to flash flooding that inundated basements, stranded dozens of motorists and cut electricity to thousands of homes. Mayor Mike Huether said infrastructure improvements in recent …

New FEMA Maps for Central Texas Expand Flood Plains

Hundreds of Central Texas residents could be forced to buy flood insurance or face stricter building regulations for new structures nearly three months after deadly flooding. The Federal Emergency Management Agency has begun releasing advisory maps. The Austin American-Statesman reports …

Florida Commissioner McCarty Says NFIP Rates May Be Unfairly Discriminatory

Florida Insurance Commissioner Kevin McCarty said on Aug. 14 that the National Flood Insurance Program’s (NFIP) rates for Florida may be “unfairly discriminatory” and that his office will ask for the actuarial study, including data and models used to determine …

FEMA Encourages Sandy Claimants Seeking Reviews to Meet Sept. 15 Deadline

The Federal Emergency Management Agency says it strongly encourages National Flood Insurance Program policyholders seeking Superstorm Sandy-related payment reviews to submit them by Sept. 15, but will consider all requests that come in. Agency spokesman Rafael Lemaitre said on Aug. …

FEMA Makes 1st New Payments to Sandy Flood Claimants After Review

The federal government has started making new payments to victims of Superstorm Sandy after a review found that some policyholders were not paid what they were due from the National Flood Insurance Program. The Federal Emergency Management Agency announced Monday …

Munich Re Launches Inland Flood Insurance Product for U.S. Homeowners

Munich Reinsurance America, Inc. has launched a new personal lines inland flood insurance product designed to provide more options for homeowners in low-to-moderate-hazard flood zones. According to the National Flood Insurance Program (NFIP), flood is the most common natural disaster …

Summer Recreation Business a Washout Due to Illinois River Floods

Flooding along the Illinois River that has prompted National Weather Service warnings and closed the waterway to boaters for weeks this summer has dampened recreational activities. Marina owners, boat shop workers and campground managers along the river in central Illinois …

Wright National Flood Insurance Co. Ratings Affirmed

A.M. Best has affirmed the financial strength rating of A- (Excellent) and the issuer credit rating of “a-” of Wright National Flood Insurance Co. (WNFIC) in San Antonio, Texas. The outlook for both ratings is stable. The ratings of WNFIC, formerly known as …

New York’s Utica First to Withdraw From WYO Flood Insurance Program

Utica First Insurance Company in Oriskany, New York, notified its independent agency partners last week that the company will withdraw from the Write Your Own (WYO) Program, a cooperative undertaking of the insurance industry and the Federal Emergency Management Agency’s …

Oklahoma’s Request for Flood Claims Extension Approved

Oklahomans with flood damage will have extra time to file their insurance claim. The Federal Emergency Management Agency (FEMA) has given National Flood Insurance Program (NFIP) policyholders an extra 180 days to file a claim. “This extra time to file …