March 31, 2022
Starting April 1, property owners in low-lying areas across the country will see their premiums increase when they renew their flood insurance policies, thanks to the federal government’s new flood-risk rating system. Some policyholders could see premiums drop under Risk …
February 20, 2020
The threat of sea-level rise should force policymakers to rethink policies that encourage development in flood-prone regions. One place to start is with the National Flood Insurance Program (NFIP), according to the Washington, D.C. free market think tank R Street. …
June 19, 2019
The big day is coming! I suspect by now, you’ve heard a great deal about the implementation of provisions of the Biggert-Waters Flood Insurance Reform Act of 2012, requiring regulated institutions to accept certain private flood insurance policies in addition …
August 29, 2018
A.M. Best is expecting Hurricane Lane to be considered more of a flood event than a wind event. As a result, the storm that buffeted Hawaii should bring a potential triggering of the National Flood Insurance Program’s reinsurance program into …
August 15, 2018
I wanted to write something this week about some piece of policy minutia. I had about 500 words written when I realized that it wasn’t going to happen. So, I set that aside and gave in to what was really …
January 4, 2018
“According to CoreLogic, a leading source for flood and disaster risk data, approximately 70 percent of the flood damage from Hurricane Harvey was uninsured….” states Clearsurance in their recently released a report on results of a survey conducted to identify …
August 28, 2017
The Independent Insurance Agents of Virginia (IIAV) is motivated to “redouble its efforts” around hurricane preparedness, particularly as it relates to flood damage, since following Hurricane Harvey’s impact in Texas, according to President and CEO Robert Bradshaw in an emailed …
March 21, 2017
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 …
December 8, 2016
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 …
December 5, 2016
The National Flood Insurance Program has paid out more than $162 million to victims in the five-state area hit by Hurricane Matthew—Florida, Georgia, North Carolina, South Carolina and Virginia, the Federal Emergency Management Agency (FEMA) said in a news release …