NEW ORLEANS (AP) – Increases in federal flood insurance premiums that are projected to surpass 700% over the coming years are already leading people to back out of home purchases and will likely lead to an exodus of residents and …
HORSESHOE BEACH, Fla. (AP) — This remote seaside enclave known as “Florida`s Last Frontier” took much of the pounding from Hurricane Idalia when it struck the state`s west coast as a Category 3 storm last week. The damage left behind …
The Federal Reserve Board has fined Regions Bank, based in Birmingham, Alabama, almost $3 million for failing to ensure that borrowers maintained flood insurance on their properties. The board did not detail the violations, but a consent order signed this …
While the National Flood Insurance Program (NFIP) rolls out a new rating program generating premium increases for many policyholders, the private flood insurance market has seized the opportunity to grow its market share across the U.S., according to an issues …
Parts of Kentucky cannot seem to catch a break from extreme weather events. Some 18 months after a powerful tornado ripped up much of downtown Mayfield, in southwestern Kentucky, heavily damaging businesses, homes, churches and a few insurance agencies, the …
Florida Gov. Ron DeSantis has vetoed flood-control and other measures in central and west Florida and at least one Republican claims that it was retaliation for his support for the governor’s rival in the 2024 presidential race. State Sen. Joe …
When the Federal Emergency Management Agency unveiled its new Risk Rating 2.0 methodology for calculating flood insurance, advocates and critics alike warned that it would mean higher premiums for thousands of property owners, especially in low-elevation coastal areas. Now, the …
Just how big an impact the recent historic California storms had on the state’s cannabis industry is still coming into focus, and while two of the biggest players in California’s cannabis insurance market are starting to see upticks in claims, …
Hurricane Ian may result in one of the largest losses in the history of the National Flood Insurance Program and add to its current $20.5 billion debt. According to a market segment report from AM Best, the projected range of …
n Friday, the Federal Emergency Management Agency announced an initial estimate of Hurricane Ian losses for the National Flood Insurance Program, putting them in the range of $3.5-$5.3 billion, including loss adjustment expenses. The losses include flood insurance claims received …
