federal flood insurnace News

Flood of Legal Questions Now Roils Sandy Survivors

First they needed blankets and generators. But before long, many of Superstorm Sandy’s bedraggled survivors also needed a lawyer. Thousands of people with damaged homes and businesses have sought help with legal headaches ranging from fights with building contractors to …

Floridians Encouraged to Buy Flood Insurance Before Hurricane Season Gets Underway

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 …

FEMA Has Most New Jersey Flood Insurance Claims Settled

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.

FEMA: $2.7B Paid Out in New Jersey Flood Insurance Claims Post-Sandy

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 …

FEMA Data Suggests Some Insurers Handling NFIP Claims Faster Than Others

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 …

N.J. Congressional Delegation Expresses Concern Over NFIP Claims

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). …

Insurer Reports Sandy Flood Claims Resolving Quickly

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 …

Sandy Victims in N.J., N.Y., Blast Delays in Flood Insurance Aid

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 …

N.J. Regulators Offer Tips on Managing Settlement Process Post-Sandy

New Jersey Department of Banking and Insurance Acting Commissioner Ken Kobylowski is offering advice to consumers in an effort to help explain the Sandy claims process. The regulator said that so far, more than 458,000 New Jersey homeowner’s, auto, business …

Insurer Ratings Unaffected, Stocks Rally As Losses from Irene Look Manageable

Loss estimates from Hurricane Irene continued to fall and ratings agencies said insurers would have no problem with claims, helping boost insurance industry shares Wednesday. The relatively limited losses that Irene appears to have caused to the private insurance industry …