Flood Insurance News

Update: U.K. Insurers Face Flood Claims up to $2.2B – with More Storms Ahead

Insurers are facing some of the costliest British floods on record as large parts of northern England, already inundated, brace for more heavy rain. Accountants estimate that insurers are currently facing a bill of up to 1.5 billion pounds ($2.22 …

NFS Edge Launches Flood Coverage Option for Condo Associations

NFS Edge Insurance Agency, Inc., a unit of Aon National Flood Services, Inc., through its Insurmark division has launched a new private flood insurance alternative to the Residential Condominium Business Association Package (RCBAP) for condo associations located in high flood …

Some Minot Officials Want Rewrite of Flood Regulations

Some officials in Minot, N.D., are proposing that the city rewrites its flood-related regulations in an effort to ease any future hikes in flood insurance premiums for residents. The Minot Daily News reports the city’s Planning Commission is recommending the …

Bettendorf, Iowa, Seeks Funds for Buyout of Homes in Flood Zones

Bettendorf, Iowa, officials are seeking federal funding that would allow the city to buy and demolish homes in flood zones. The Quad-City Times reports Bettendorf City Planner John Soenksen presented the plan to apply for Hazard Mitigation Grant Program funds …

Weather-Related Property Claims Mount in Texas

Severe weather in all regions of the state this year has resulted in high numbers of insurance claims from property and auto losses in Texas, according to an insurance company trade group. The Insurance Council of Texas reported that paid …

Franklin, Indiana, Faces Big Change in Flood Plain Maps

Hundreds of homes and businesses in a central Indiana city hit hard by flash flooding seven years ago could face hefty jumps in their insurance costs if updated federal flood plain maps are approved. About 70 percent of Franklin’s industrial …

FEMA’s Sandy Flood Insurance Review Taking Longer Than Expected

The Federal Emergency Management Agency’s review of Superstorm Sandy flood insurance claims is taking longer than expected, with fewer than 200 checks issued. FEMA announced in March the review for as many as 142,000 claims after homeowners complained they were …

N.Y. Sen. Gillibrand Calls for More Transparency in NFIP Claims Process

U.S. Sen. Kirsten Gillibrand, D-New York, is announcing legislation to require the Federal Emergency Management Agency to be more accountable to property owners who file claims. Gillibrand says many New Yorkers whose homes were damaged or destroyed during Superstorm Sandy …

N.J. Lawmakers: FEMA Maps May Have Exaggerated Flood Risk Across State

New Jersey’s Congressional delegation members sent a letter to the Federal Emergency Management Agency (FEMA) on Oct. 23, expressing “significant concerns with the methodology” of the Flood Insurance Rate Maps (FIRMs) for New Jersey. In a letter to FEMA Administrator …

FEMA Urges Californians to Buy Flood Insurance Ahead of El Nin᷈o

Federal emergency officials are urging Californians to buy flood insurance – even those who don’t live near creeks or rivers – as El Nin᷈o conditions get underway in the Pacific Ocean, increasing chances for heavy storms this winter. Roy Wright, …