National Flood Insurance Program News

Better Data, Models Expand Private Flood Insurance Opportunities: Actuaries

As Congress considers reauthorization of the National Flood Insurance Program (NFIP), it should take into account specific insurance market, technological advances and other developments in weighing its options, according to the nation’s actuaries. A new report, “National Flood Insurance Program: …

California May Exit Federal Flood Program, According to Reports

After learning a lesson from what could have been the largest dam disaster U.S. history, California officials are reported to be considering withdrawing from the National Flood Insurance Program. Capital Public Radio is reporting that a proposal to exit the …

Private Flood Insurance a Focus for Pennsylvania Insurance Department in 2017

The Pennsylvania Insurance Department has a plan to continue furthering its initiatives within the private flood insurance market in 2017. This comes after the North Central part of the state of Pennsylvania saw flooding in many areas outside of identified …

Virginia Flood Damage from Matthew Costliest Since Isabel, Officials Say

Virginia suffered only a glancing blow from Hurricane Matthew last month when unprecedented amounts of rain fell, but on Wednesday officials estimated flood damage to be hundreds of millions of dollars, making it the costliest storm since Hurricane Isabel in …

Flawed Flood Maps Hurting Condo Sales in Ocean City, Maryland

Flawed Federal Emergency Management Agency flood insurance maps have caused insurance premiums at some Ocean City, Maryland, properties to skyrocket, but city officials say a resolution could still take months. The Daily Record reports that FEMA officials drew the line …

Penn. Issues Consumer Alert for Homeowners on Appealing Flood Maps

Pennsylvania Insurance Commissioner Teresa Miller issued a consumer alert this week telling homeowners about a process by which they can appeal their property’s placement in a flood zone by the federal government, which in many cases requires them to purchase …

Penn. Hails House Committee Passage of Private Flood Insurance Bill

Pennsylvania Insurance Commissioner Teresa Miller hailed a recent vote by the U.S. House of Representatives Financial Services Committee approving the Flood Insurance Market Parity and Modernization Act (H.R. 2901). Miller said this legislation encourages more private insurers to write flood …

Record Number of Flood Policies Bought by Californians, FEMA Says

Federal emergency officials reported Tuesday a surge in the number of California residents who have purchased flood insurance, most likely in response to a rainy El Niño winter. Officials with the Federal Emergency Management Agency said insurers have written more …

Penn. Encourages Homeowners to Look at Private Market Flood Coverage

The Pennsylvania Insurance Department has created a new “one-stop shop” webpage to make information on private market flood insurance more accessible to Pennsylvania homeowners and renters. In announcing the new webpage, Pennsylvania Insurance Commissioner Teresa Miller said Pennsylvania homeowners, who …

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

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 …