NFIP News

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 …

Is it Flood or Water Damage – Part IV of Flood, Flood or Flood

To review prior articles, links are here for Part I, Part II, and Part III.  Part IV What the Insured Said Let’s bring this discussion back full circle to discuss what happened. What did the insured actually mean by “We …

National Flood Services Launches Private Flood Product Suite

National Flood Services, a division of Affinity Insurance Services, has introduced a line of private flood insurance products that will be delivered via the FloodChoice agent system. The new products offer options for consumers and insurance agents. According to John …

Flood, Flood or Flood! Who Responds: AAIS, ISO or NFIP? – Part III

Part III AAIS’s Flood Coverage Endorsement “Flood” becomes a covered cause of loss by attachment of AAIS’s Flood Endorsement CO 1223 (The Flood Endorsement specifically designed for the COP XL is endorsement/form number OP 1101. This form applies the same …

Flood, Flood or Flood? – Part II

In case you missed it (and don’t want to begin in the middle of the conversation), here is the link to Part I.  Part II AAIS’s COP and COP XL Coverage Forms AAIS’s COP and COP XL are designed and …

Flood, Flood, or Flood: What is Really Meant When a ‘Flood’ Loss is Reported? – Part I

Part I “We’ve had a flood,” says the commercial insured. “Oh, no!” the agent says as he quickly reviews the file documentation to confirm whether flood coverage was even offered. Then the key question is asked, “What happened?” What really …

FEMA Sets Up Interim Flood Insurance Advocate

The Federal Emergency Management Agency (FEMA) has launched the interim office of the Flood Insurance Advocate. The interim office will be led by Acting Flood Insurance Advocate David Stearrett beginning Dec. 22. Stearrett most recently served as chief of Floodplain …

Florida’s Flood Agency Stops Writing New Business in Tampa Bay Region

One of the first entities to step forward and provide private flood insurance in Florida has announced it will stop writing new business in the Tampa Bay region in order to manage its exposure. The Flood Agency, which offers private …