NFIP News

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 …

With Fix for Flood Insurance Program Deficit Delayed, Now What?

There’s no easy fix for the National Flood Insurance Program, now drowning in a $24 billion sea of red ink. But experts and advocates say Congress does have some options that could make the troubled program financially stable, more affordable …

North-Central Penn. Officials: Higher Flood Insurance Rates Will Bankrupt Homeowners

Residents and officials in flood-prone north-central Pennsylvania are warning that a new federal law ending subsidized federal flood insurance rates in certain areas will bankrupt homeowners, drive down property values and deplete tax bases. They testified during a Wednesday hearing …

Some Flood Insurance Rates to Rise in Kansas’ Douglas County

Some property owners in Douglas County, Kansas, could soon pay more for federal insurance. The federal government’s decision to phase out subsidized insurance in special flood hazard areas will increase costs for 168 property owners in Douglas County. Most of …