National Flood Insurance Program (NFIP) News

Hey Congress, Hurricanes and Health Care Have a Lot in Common: Bloomberg View

As Congress continues to struggle with health insurance reform, members should be ruminating on the scenes of “recovery” beaming in from East Texas and Florida, where the majority of households — many now severely damaged or destroyed — had not …

AIR Worldwide Estimates $65B – $75B in Texas Property Damage from Harvey Flooding

Boston-based catastrophe modeling firm AIR Worldwide has estimated property losses from the flooding in Texas caused by Hurricane Harvey’s record-breaking rainfall will be between $65 billion and $75 billion. These figures include damage to all properties eligible for coverage regardless …

Why the Number of Coastal Homeowners with Flood Insurance Has Been Shrinking

Amanda Spartz nearly did not renew her home’s flood insurance policy after her first year in Florida. Two hurricanes came close to the Fort Lauderdale suburbs last year, but they didn’t hit and her home isn’t in a high-risk flood …

Hurricane Harvey Could Spur Congress to Act on Flood Insurance

The destruction that heavy rain and floods from Hurricane Harvey could inflict on Texas would add to the pile of debt owed by a federal flood insurance program that is due to expire in September, advocacy groups said. The National …

Trump FEMA Chief Backs Reducing Federal Role in Disaster Relief, Flood Insurance

President Donald Trump’s emergency management director said he’s pushing for an overhaul of disaster relief so that states, cities and homeowners bear more of the costs, and less of the risk falls on the federal government. Brock Long, who was …

Mississippi Rep., Insurance Chief Urge Development of Private Flood Market

Mississippi’s top insurance regulator and its only Democratic congressman are both ready to cede some of the federal flood insurance market to private insurers. Both Republican Insurance Commissioner Mike Chaney and U.S. Rep. Bennie Thompson say they’re open to proposals …

Private Insurers Cautiously Dip Toes Into Florida Flood Market Waters

Florida’s efforts in establishing a private flood insurance market have been hailed as a model by many other states looking to buff up their flood insurance offerings, as well as the National Flood Insurance Program (NFIP) to follow as lawmakers …

Ratings of San Antonio’s Wright National Flood Insurance Affirmed

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

House Committee Adds 5 More Bills to Its Flood Insurance Reform Package

The House Financial Services Committee advanced five flood insurance proposals on Wednesday, adding to the two bills it passed last week. The House measures seek to reform and reauthorize the National Flood Insurance Program (NFIP), which is set to expire …

House Panel Gets Down to Business on Flood Insurance Proposals

House lawmakers are weighing seven proposals to renew and reform the federal flood insurance program, an area where there is a good amount of bipartisan agreement that something should be done and even on what to do. The House Financial …