flood insurance rates News

New Federal Flood Insurance Rating Plan to Start Oct. 1

Hundreds of thousands of Americans will pay significantly more to insure their homes in coastal areas and flood zones under new rules released on Thursday by the Federal Emergency Management Agency (FEMA), the first major update to its pricing system …

Commercial Insurance Rates, Except Auto and Flood, Still Falling: CIAB

Commercial property/casualty insurance prices continued to decline moderately — an average of 3.1 percent— during the third quarter, according to a survey by The Council of Insurance Agents & Brokers. The CIAB survey showed a continued decline in commercial P/C …

Approval of New Orleans East Levees a Good Sign for Flood Insurance Rates

Levee officials say the Federal Emergency Management Agency has certified non-federal levees in New Orleans East, a step which should help spur economic development in a part of the city lagging in its comeback from Hurricane Katrina. FEMA officials certified …

No Flood Insurance Rate Hike for Most Minot, North Dakota Residents

Officials say only a small number of Minot, N.D., residents have been forced to pay higher premiums for flood insurance, despite a devastating flood three years ago that wiped out most of the city. Multiple claims on a property will …

Lower Insurance Rates Expected with Accreditation of West Monroe Levee

The 10-mile stretch of levee protecting West Monroe has been accredited by the Federal Emergency Management Agency. “It’s great news for West Monroe and for the district,” said Tensas Basin Levee District executive director John Stringer. “It’s a good first …

Jersey Shore Residents Hail Passage of Flood Insurance Relief Bill

Sue Suebelka, who had little fish swimming among the shelves of her new refrigerator, won’t have to pay quite as much for flood insurance. Kim Ely, who still washes dishes in a bucket and eats dinner from a microwave in …

Mass. Rep. Keating Urges House Approval of Flood Insurance Bill

U.S. Rep. William Keating, D-Mass., is calling for swift passage of a flood insurance bill in the House that would give hundreds of thousands of homeowners a reprieve from higher flood insurance premiums. The Democrat said there’s no reason why …

Rising Cost of Flood Insurance Will Create Challenges for NYC: RAND

Some New York City residents may soon face sharp increases in their flood insurance premiums as a result of major changes occurring in the National Flood Insurance Program and the redrawing of flood maps that expand the areas at risk, …

Mississippi Coast Property Owners Told to Buy Flood Insurance Now to Save

With the eighth anniversary of Hurricane Katrina near, homeowners along the Mississippi Coast also have to brace for possible rate increases of 20 percent for flood insurance and 3.2 percent for wind pool insurance. The Clarion-Ledger reported that state Insurance …

Coastal Lawmakers Seek Delays in Flood Insurance Changes, Rate Hikes

Just a year after Congress imposed significant changes in the government’s oft-criticized flood insurance program, howls of protest from homeowners facing higher premiums have coastal lawmakers pressing for delays that would preserve below-cost rates for hundreds of thousands of people …