Insurance Journal » National Flood Insurance Program http://www.insurancejournal.com Insurance Journal delivers the latest business news for the Property/Casualty insurance industry Tue, 21 May 2013 14:43:23 +0000 en-US hourly 1 http://wordpress.org/?v=3.5.1 In Connecticut, Sandy Aid Tops $367M; Flood Insurance Payouts Reach $220M http://www.insurancejournal.com/news/east/2013/05/06/290936.htm Mon, 06 May 2013 14:56:41 +0000 http://www.insurancejournal.com/?p=290936 More than $367 million in federal assistance has been approved to help the state with disaster expenses related to Superstorm Sandy, Connecticut Gov. Dannel P. Malloy said on May 3 as other officials highlighted recovery needs along the shoreline. The …

The article In Connecticut, Sandy Aid Tops $367M; Flood Insurance Payouts Reach $220M appeared first on Insurance Journal.

]]> Floridians Encouraged to Buy Flood Insurance Before Hurricane Season Gets Underway http://www.insurancejournal.com/news/southeast/2013/04/23/289479.htm Tue, 23 Apr 2013 16:23:49 +0000 http://www.insurancejournal.com/?p=289479 Florida Insurance Commissioner Kevin McCarty is encouraging Floridians to make preparations now for the upcoming 2013 hurricane season by purchasing flood insurance. Flood insurance is administered through the National Flood Insurance Program (NFIP) and is available to homeowners, renters and …

The article Floridians Encouraged to Buy Flood Insurance Before Hurricane Season Gets Underway appeared first on Insurance Journal.

]]> FEMA Has Most New Jersey Flood Insurance Claims Settled http://www.insurancejournal.com/news/east/2013/04/11/288082.htm Thu, 11 Apr 2013 14:59:07 +0000 http://www.insurancejournal.com/?p=288082 The Federal Emergency Management Agency says it has settled 96 percent of the post-Superstorm Sandy National Flood Insurance Program claims in New Jersey.The agency says that as of Tuesday, there had been 74,825 claims filed and 70,689 had been closed. …

The article FEMA Has Most New Jersey Flood Insurance Claims Settled appeared first on Insurance Journal.

]]> Connecticut Receives $250M in Federal Sandy Aid http://www.insurancejournal.com/news/east/2013/03/28/286393.htm Thu, 28 Mar 2013 16:19:42 +0000 http://www.insurancejournal.com/?p=286393 Connecticut’s governor says more than $250 million in federal assistance has been approved to help people and businesses affected by Superstorm Sandy. The aid was made available after President Barack Obama approved a disaster declaration for the state in the …

The article Connecticut Receives $250M in Federal Sandy Aid appeared first on Insurance Journal.

]]> Ohio Marks 1913 Flood Centennial, Warns of Dangers http://www.insurancejournal.com/news/midwest/2013/03/25/285954.htm Mon, 25 Mar 2013 15:53:22 +0000 http://www.insurancejournal.com/?p=285954 State officials are using the 100th anniversary of a devastating and deadly flood to encourage Ohioans to prepare for potential high water emergencies by reviewing their response plans and insurance coverage. On the heels of the state and national Flood …

The article Ohio Marks 1913 Flood Centennial, Warns of Dangers appeared first on Insurance Journal.

]]> N.J. Poll: Rules Needed for Rebuilding After Superstorm http://www.insurancejournal.com/news/east/2013/03/24/285809.htm Mon, 25 Mar 2013 02:43:13 +0000 http://www.insurancejournal.com/?p=285809 A new poll finds most New Jersey voters surveyed believe the state should impose specific rules on property owners who are rebuilding after Superstorm Sandy.The Fairleigh Dickinson-PublicMind poll from March 19 found that 64 percent of respondents believe property owners …

The article N.J. Poll: Rules Needed for Rebuilding After Superstorm appeared first on Insurance Journal.

]]> Penn. Regulators Urge Consumers to Consider Buying Flood Insurance http://www.insurancejournal.com/news/east/2013/03/22/285659.htm Fri, 22 Mar 2013 07:48:54 +0000 http://www.insurancejournal.com/?p=285659 The Pennsylvania Insurance Department is encouraging homeowners to consider buying flood insurance to help protect against potential spring floods. Winter ice and snow increases the chance of spring flooding, Pennsylvania regulators warned. Further, Pennsylvania is one of the most flood-prone …

The article Penn. Regulators Urge Consumers to Consider Buying Flood Insurance appeared first on Insurance Journal.

]]> Dunes vs. Property Rights in Storm-Battered New Jersey http://www.insurancejournal.com/news/east/2013/03/21/285625.htm Fri, 22 Mar 2013 03:18:16 +0000 http://www.insurancejournal.com/?p=285625 The sand dune that ruined Harvey and Phyllis Karan’s view of the ocean allowed their beachfront home to see another day when Superstorm Sandy’s surge crashed ashore. They still want the $375,000 a court awarded them for the blocked sunrise, …

The article Dunes vs. Property Rights in Storm-Battered New Jersey appeared first on Insurance Journal.

]]> Mainers Urged to Consider Flood Insurance http://www.insurancejournal.com/news/east/2013/03/18/284956.htm Mon, 18 Mar 2013 07:27:39 +0000 http://www.insurancejournal.com/?p=284956 State officials are urging Mainers to consider buying flood insurance if their home or business is located close to a body of water. The Maine Floodplain Management Program says standard home- and business-owners’ insurance policies do not cover flood-related damages. …

The article Mainers Urged to Consider Flood Insurance appeared first on Insurance Journal.

]]> FEMA: $2.7B Paid Out in New Jersey Flood Insurance Claims Post-Sandy http://www.insurancejournal.com/news/east/2013/03/15/284900.htm Fri, 15 Mar 2013 16:04:21 +0000 http://www.insurancejournal.com/?p=284900 The Federal Emergency Management Agency says it has made $2.7 billion in flood insurance payments to New Jersey claimants since Superstorm Sandy hit the state last October.The agency also announced Tuesday that it has approved $367.3 million overall in grants …

The article FEMA: $2.7B Paid Out in New Jersey Flood Insurance Claims Post-Sandy appeared first on Insurance Journal.

]]> Legislators Propose Stretching Out NFIP Rate Hike Timeline to Assist Sandy Victims http://www.insurancejournal.com/news/east/2013/03/12/284455.htm Tue, 12 Mar 2013 16:54:15 +0000 http://www.insurancejournal.com/?p=284455 A group of U.S. representatives from New York is proposing a bill that would stretch out the National Flood Insurance Program’s premium increase timeline. On Monday, U.S. Reps. Michael G. Grimm (R-N.Y.), Gregory Meeks (D-N.Y.), Charles B. Rangel (D-N.Y.), Eliot …

The article Legislators Propose Stretching Out NFIP Rate Hike Timeline to Assist Sandy Victims appeared first on Insurance Journal.

]]> Sandy-Damaged Homes Hit Market at Bargain Prices http://www.insurancejournal.com/news/east/2013/03/11/284226.htm Mon, 11 Mar 2013 16:45:04 +0000 http://www.insurancejournal.com/?p=284226 It sounds like the premise for a new reality TV series: “Hurricane House” — people scouring waterside communities looking to buy homes damaged by Superstorm Sandy at a deep discount. While there are bargains out there, ranging from 10 percent …

The article Sandy-Damaged Homes Hit Market at Bargain Prices appeared first on Insurance Journal.

]]> FBI in New Jersey Watching for Sandy Fraud http://www.insurancejournal.com/news/east/2013/03/08/284079.htm Fri, 08 Mar 2013 15:28:23 +0000 http://www.insurancejournal.com/?p=284079 The FBI in New Jersey is watching to ensure that federal money meant to rebuild after Superstorm Sandy doesn’t find its way into the pockets of corrupt politicians or scam artists. The Federal Emergency Management Agency says $2.5 billion in …

The article FBI in New Jersey Watching for Sandy Fraud appeared first on Insurance Journal.

]]> Connecticut Homeowners Face Stark Choices After Sandy http://www.insurancejournal.com/news/east/2013/03/05/283539.htm Tue, 05 Mar 2013 08:45:01 +0000 http://www.insurancejournal.com/?p=283539 Jackie Beagon loved her life along the Connecticut coast, where she and her husband walked to the beach and church and bicycled around the neighborhood. But Superstorm Sandy ripped it all apart, and the couple was forced to sell their …

The article Connecticut Homeowners Face Stark Choices After Sandy appeared first on Insurance Journal.

]]> N.J. Gov. Christie: Fed Flood Insurance Program ‘Awful’ http://www.insurancejournal.com/news/east/2013/03/01/283276.htm Fri, 01 Mar 2013 17:07:12 +0000 http://www.insurancejournal.com/?p=283276 New Jersey Gov. Chris Christie says federal flood insurance claims from Superstorm Sandy are being paid too slowly.Christie stepped up criticism of the federal program on Townsquare Media’s “Ask the Governor” program Wednesday. The Republican governor says he complained to …

The article N.J. Gov. Christie: Fed Flood Insurance Program ‘Awful’ appeared first on Insurance Journal.

]]> Industry Group Testifies on Sandy Claims Handling Process in New York http://www.insurancejournal.com/news/east/2013/02/27/282994.htm Wed, 27 Feb 2013 17:53:47 +0000 http://www.insurancejournal.com/?p=282994 An insurance industry association testified about insurers’ response to Superstorm Sandy and the lessons learned at a hearing Tuesday before the New York Assembly Standing Committee on Insurance. The American Insurance Association said the insurance industry’s performance in handling a …

The article Industry Group Testifies on Sandy Claims Handling Process in New York appeared first on Insurance Journal.

]]> New York Officials: Include Hudson Areas in Flood Study http://www.insurancejournal.com/news/east/2013/02/20/281974.htm Wed, 20 Feb 2013 17:57:57 +0000 http://www.insurancejournal.com/?p=281974 New York officials are calling on the U.S. Army Corps of Engineers to include Hudson River communities in a $20 million study of flood-prone areas in the wake of Superstorm Sandy. Sen. Charles Schumer says local governments and groups like …

The article New York Officials: Include Hudson Areas in Flood Study appeared first on Insurance Journal.

]]> Statistics on Insurers Handling Sandy Flood Claims http://www.insurancejournal.com/news/east/2013/02/19/281691.htm Tue, 19 Feb 2013 16:03:41 +0000 http://www.insurancejournal.com/?p=281691 The 15 insurers participating in the National Flood Insurance Program that are handling at least 1,000 claims related to Sandy, the progress they have made in closing claims, and the money they have paid out to date: Company Claims Percent …

The article Statistics on Insurers Handling Sandy Flood Claims appeared first on Insurance Journal.

]]> FEMA Data Suggests Some Insurers Handling NFIP Claims Faster Than Others http://www.insurancejournal.com/news/east/2013/02/17/281517.htm Sun, 17 Feb 2013 20:58:36 +0000 http://www.insurancejournal.com/?p=281517 Up and down the Atlantic coast, people are telling horror stories about how long it has taken to get an insurance check for flood damage caused by Superstorm Sandy. Nearly 40 percent are still waiting for the final settlements they …

The article FEMA Data Suggests Some Insurers Handling NFIP Claims Faster Than Others appeared first on Insurance Journal.

]]> N.J. Congressional Delegation Expresses Concern Over NFIP Claims http://www.insurancejournal.com/news/east/2013/02/15/281500.htm Fri, 15 Feb 2013 17:59:18 +0000 http://www.insurancejournal.com/?p=281500 On Tuesday Feb. 12, New Jersey’s Congressional delegation sent a letter to Federal Emergency Management Agency Administrator W. Craig Fugate, expressing their concern over what the delegation described as “the backlog of claims” in the National Flood Insurance Program (NFIP). …

The article N.J. Congressional Delegation Expresses Concern Over NFIP Claims appeared first on Insurance Journal.

]]> Insurer Reports Sandy Flood Claims Resolving Quickly http://www.insurancejournal.com/news/east/2013/02/14/281302.htm Thu, 14 Feb 2013 17:59:04 +0000 Denise Johnson http://www.insurancejournal.com/?p=281302 A bulletin by the National Flood Insurance Program helped spur quicker processing of Sandy flood-related claims. Prior to the bulletin, claims were adjusted according to the policy and guidelines established by the Federal Emergency Management Agency (FEMA), according to Jeff …

The article Insurer Reports Sandy Flood Claims Resolving Quickly appeared first on Insurance Journal.

]]> Marsh Enhances Access to National Flood Insurance Program http://www.insurancejournal.com/news/national/2013/02/11/280850.htm Mon, 11 Feb 2013 17:32:11 +0000 http://www.insurancejournal.com/?p=280850 Marsh has enhanced its Flood Service Center (FSC) facility, which is dedicated to providing clients flood coverage and includes options through the National Flood Insurance Program (NFIP). In collaboration with Homesite Insurance in a fronting capacity and Torrent Technologies, an …

The article Marsh Enhances Access to National Flood Insurance Program appeared first on Insurance Journal.

]]> First Fidelity Brokerage Launches Flood Insurance Website http://www.insurancejournal.com/news/national/2013/02/07/280519.htm Thu, 07 Feb 2013 17:47:29 +0000 http://www.insurancejournal.com/?p=280519 First Fidelity Brokerage of New York has launched www.insureflood.com for homeowners and businesses to obtain flood insurance, as well as information about flood insurance. The site also has a link to estimate flood damage based on the height of the …

The article First Fidelity Brokerage Launches Flood Insurance Website appeared first on Insurance Journal.

]]> FEMA Defends Handling of Sandy Flood Claims http://www.insurancejournal.com/news/east/2013/02/07/280477.htm Thu, 07 Feb 2013 17:41:43 +0000 http://www.insurancejournal.com/?p=280477 The Federal Emergency Management Agency is defending its handling of Superstorm Sandy-related flood insurance claims following sharp criticism by New Jersey’s governor.FEMA says more than half of the more than 140,000 flood insurance claims filed in all the states hit …

The article FEMA Defends Handling of Sandy Flood Claims appeared first on Insurance Journal.

]]> N.J. Gov. Christie Says Fed Flood Insurance Program Is a ‘Disgrace’ http://www.insurancejournal.com/news/east/2013/02/06/280262.htm Wed, 06 Feb 2013 17:58:18 +0000 http://www.insurancejournal.com/?p=280262 New Jersey Gov. Chris Christie said Tuesday the National Flood Insurance Program’s handling of claims in New Jersey has been “a disgrace,” complaining that the program has been far too slow to resolve claims from Superstorm Sandy, with 70 percent …

The article N.J. Gov. Christie Says Fed Flood Insurance Program Is a ‘Disgrace’ appeared first on Insurance Journal.

]]> Coalition Pushing for New National Framework for Disasters http://www.insurancejournal.com/news/national/2013/01/31/279569.htm Thu, 31 Jan 2013 20:09:51 +0000 Don Jergler http://www.insurancejournal.com/?p=279569 A coalition of national interests has introduced a framework intended to shape how the nation responds to natural disasters, or as one advocate of the framework described it, change the way governments and communities operate so they can “prespond to …

The article Coalition Pushing for New National Framework for Disasters appeared first on Insurance Journal.

]]> Deadline Extended for Isaac Flood Insurance Claims http://www.insurancejournal.com/news/southcentral/2013/01/25/278842.htm Fri, 25 Jan 2013 17:27:58 +0000 http://www.insurancejournal.com/?p=278842 Louisiana property owners with flood insurance policies whose homes or other structures were damaged during Hurricane Isaac have another 30 days to file claims for their flood losses. Policy owners now have until Feb. 21 to complete their proof of …

The article Deadline Extended for Isaac Flood Insurance Claims appeared first on Insurance Journal.

]]> Superstorm Sandy Challenges Definition of Basement in New Jersey http://www.insurancejournal.com/news/east/2013/01/21/278060.htm Tue, 22 Jan 2013 02:20:11 +0000 http://www.insurancejournal.com/?p=278060 Irene Sobolov believes the first floor of her house in Hoboken, N.J., is just that. The federal government and her insurance company say it’s a basement. The semantics, Sobolov has learned, are very expensive. Sobolov and others whose lower-level apartments …

The article Superstorm Sandy Challenges Definition of Basement in New Jersey appeared first on Insurance Journal.

]]> Sandy Victims in N.J., N.Y., Blast Delays in Flood Insurance Aid http://www.insurancejournal.com/news/east/2013/01/06/276197.htm Sun, 06 Jan 2013 18:09:22 +0000 http://www.insurancejournal.com/?p=276197 Even as Congress passed the first part of an aid package for victims of Superstorm Sandy, many victims seethed, wondering why it took so long. The $9.7 billion measure approved on Friday, Jan. 4, allows the National Flood Insurance Program …

The article Sandy Victims in N.J., N.Y., Blast Delays in Flood Insurance Aid appeared first on Insurance Journal.

]]> House, Senate OK $9.7B More for Flood Insurance Claims http://www.insurancejournal.com/news/national/2013/01/04/276081.htm Fri, 04 Jan 2013 17:12:25 +0000 http://www.insurancejournal.com/?p=276081 The House of Representatives voted today 354-67 to increase the borrowing authority of the National Flood Insurance Program (NFIP) by $9.7 billion. The Senate, which already approved a similar increase but as part of a larger $60 billion Superstorm Sandy …

The article House, Senate OK $9.7B More for Flood Insurance Claims appeared first on Insurance Journal.

]]>