Flood Insurance News

Experts See Expanding Role for Parametric Insurance, Including for U.S. Disasters

Catastrophic losses this year due to extreme weather events have led to a growing interest in parametric insurance in the U.S., according to industry experts. Parametric coverage is also gaining traction as hazard modeling continues to improve, weather stations more …

Austin American-Statesman: Texas Has 100s of Substandard Dams in Populated Areas

The earthen dam on the outskirts of Georgetown in Texas’ Williamson County certainly does not look flimsy. The Austin American-Statesman reports at 35 feet high and nearly a third of a mile long, it has done a reliable job of …

More Work Still Needed to Rebuild West Virginia Town

It has been two months since heavy rain swelled the waters of Fish Creek and drenched the town of Hundred, West Virginia, and its residents under several feet of water. The night it happened is stuck in the minds of …

Texas A&M Professor Thinks Web Tool Can Help Coastal Texans Assess Flood Risk

When Sam Brody and his wife were shopping for a new home in Houston six months ago, they had very different priorities. Brody, a researcher who analyzes ways to minimize the impact of natural disasters, was focused on the fact …

Texas Homeowners Say They Weren’t Warned about Flooding Risks

More than 20 years before Hurricane Harvey, officials in suburban Houston were aware that a heavy storm could cause a reservoir to overflow and inundate nearby homes with water. So they issued a warning to potential home buyers. But they …

Prospect General Expands Admitted Residential Flood Program into Utah

Prospect General Insurance Agency has expanded Flood Guard, an admitted residential flood insurance product, into Utah. Flood Guard is an alternative to the National Flood Insurance Program (NFIP). Through its rating algorithm and online platform, Flood Guard offers affordable coverage …

Houston’s Small Businesses Digging Out from Hurricane Harvey

Josh Beasley and his fiancé bought Houston’s Body3 Personal Fitness on July 1, less than two months before Tropical Storm Harvey swamped the gym with a foot of water and left behind the dank stench of fetid mildew. Wading into …

Connecticut Reminds Policyholders to Be Prepared This Storm Season

Connecticut Insurance Commissioner Katharine L. Wade is reminding policyholders to review their homeowners insurance and understand their coverage as the 2017 Atlantic tropical storm season heads into its busiest time. The storm season traditionally runs from June 1 through November …

More Louisiana Homeowners Eligible for Flood Recovery Aid

Louisiana’s flood recovery board agreed on Aug. 18 to Gov. John Bel Edwards’ plan to widen eligibility for a homeowner aid program by including those whose flood insurance proceeds didn’t cover their rebuilding costs. Grant amounts for some homeowners without …

Pump Problems Continue as New Orleans Braces for More Rain

With more rain in the forecast and city water pumps malfunctioning after weekend floods, New Orleans’ mayor urged residents of some waterlogged neighborhoods to move their vehicles to higher ground. Mayor Mitch Landrieu’s office said in a news release early …