Florida private flood insurance News

Commentary: How Florida’s Flood Insurance Model Could Work Nationwide

While Congress works on various reforms to the National Flood Insurance Program (NFIP), the time is ripe for the private insurance market to step up and play a greater role in providing Americans needed flood coverage. Last month in Salt …

Security First Insurance Co. Enters Florida’s Growing Private Flood Market

A new carrier has entered the Florida flood insurance market with a policy it says will provide better coverage than what is available from the National Flood Insurance Program. Ormond Beach, Fla.-based Security First Insurance Co. has launched an optional …

Florida’s Private Flood Insurers Could Face Big Test from Hurricane Irma

Hurricane Irma could test a nascent private flood insurance market in Florida that some advocates say is a model for making U.S. flood coverage more affordable and commonplace in high-risk areas. Florida’s private flood insurance market represents a tiny sliver …

Private Insurers Cautiously Dip Toes Into Florida Flood Market Waters

Florida’s efforts in establishing a private flood insurance market have been hailed as a model by many other states looking to buff up their flood insurance offerings, as well as the National Flood Insurance Program (NFIP) to follow as lawmakers …

New Flood Insurance Product For Florida Homeowners Available from American Integrity

American Integrity Insurance Group (AI), a Florida-based insurance provider, has unveiled a private flood insurance option for homeowners. AI is one of nine Florida-based insurers to offer its own flood program that includes a Florida Office of Insurance Regulation (FOIR) …

House Subcommittee Renews Call for Private Flood Insurance

A House Financial Services subcommittee scheduled a hearing for today to focus attention on encouraging flood insurance sold by private insurers as an alternative to policies sold by the National Flood Insurance Program (NFIP). The hearing called by the Subcommittee …

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 …

Florida Private Flood Bill Now Law But Market May Take a While to Develop

Florida Gov. Rick Scott has signed legislation designed to encourage private insurers to offer flood insurance, but the industry is tamping down expectations that it will result in a viable market in the near future. The legislation creates a statutory …

Florida Senate Passes Measure to Encourage Private Flood Insurance

The Florida Senate is backing a bill to entice private insurance companies to sell flood policies in the state that’s the most vulnerable to storm surge. The Senate this week unanimously passed the bill (SB 542) sponsored by Sen. Jeff …

Florida Legislature Seeks to Entice Private Insurers to Sell Flood Policies

The Florida Legislature is moving forward on a plan to entice private insurance companies to sell flood policies in the state that’s the most vulnerable to storm surge. It’s not clear, though, that many private insurers will want to assume …