After learning some hard lessons from Superstorm Sandy, the Federal Emergency Management Agency says it is reforming the way it handles appeals from disgruntled policyholders in the National Flood Insurance Program. The October 2012 storm, spawned when Sandy merged with …
The outgoing director of the National Flood Insurance Program (NFIP) says the program is a “melting iceberg” that is incapable of properly managing its various players including the private insurance carriers that sell policies and handle claims. The government has …
The House of Representatives voted today 354-67 to increase the borrowing authority of the National Flood Insurance Program (NFIP) by $9.7 billion. The Senate, which already approved a similar increase but as part of a larger $60 billion Superstorm Sandy …
The Federal Emergency Management Agency (FEMA), which administers the National Flood Insurance Program (NFIP), has notified Congress that without the approval of additional borrowing authority, funds available to pay claims will be exhausted sometime around the week of January 7. …
The Senate on Friday approved a $60.4 billion supplemental package to provide additional aid for northeast states hit by Superstorm Sandy that includes an increase in the borrowing authority of the federal flood insurance program. The measure increases the borrowing …
More businesses are expressing interest in purchasing flood insurance coverage from the National Flood Insurance Program (NFIP) in the wake of Superstorm Sandy’s heavy rain, record storm surge, and resulting widespread flood damage, according to insurance broker Marsh. Although most …
Ratings analysts at A.M. Best Co. said that it is likely that the brunt of Hurricane Sandy’s financial impact will fall on the National Flood Insurance Program (NFIP), which is responsible for almost all flood coverage in the country. For …
