If the nearly 4.3 million residential homes (1-4 units) across the country with substantial flood risk were to be insured through the National Flood Insurance Program (NFIP), the NFIP rates would need to increase 4.5 times to cover the risk …
As of Feb. 1, the National Flood Insurance Program (NFIP) has paid out more than $115 million in flood claims in Louisiana in response to the 2020 hurricane season. That figure is up from the $110 million in NFIP payments …
Flooding is America’s number one natural disaster and as the highest “at risk” state in the country, Florida is the epicenter for all things flood insurance. Since 1968, when procuring flood insurance, agents and homeowners have had virtually one option: …
The northeastern U.S. is one of the key areas of the country at risk for flooding, as evidenced by the billions in losses from Superstorm Sandy, which saw more than $8.1 billion in 144,000 NFIP (National Flood Insurance Program) claims. …
The state of South Carolina is aiming to foster new flood insurance coverage options through the enactment of the South Carolina Private Flood Insurance Act. South Carolina Gov. Henry McMaster signed the legislation, passed Sept. 23 by state lawmakers, into …
President Donald Trump signed a funding measure that will keep the federal government running until Dec. 11. The continuing resolution (HR 8337), which the House passed last week 359 to 57, was approved by the Senate in a 84-10 vote …
Hurricane Sally is not expected to cause a major insurance loss – compared to events such as the ongoing wildfires in California, Oregon, and Washington, or Hurricane Laura, according to AM Best. As the storm was more of a flood …
Passaic County in New Jersey is not in the hurricane belt nor is it on the banks of a major river, and yet 810 properties there received $170 million of taxpayer money through the National Flood Insurance Program (NFIP) since …
Neptune Flood, an AI-driven flood insurance company, has expanded its flood insurance products to now include all NFIP product types. Neptune, which has previously offered flood insurance for one to four family homes, and main street businesses, now offers a …
Catastrophe risk products and services company, Risk Management Solutions Inc. (RMS), has estimated that insurance losses in the U.S. from Hurricane Hanna will not exceed $400 million. This estimate represents insured losses associated with wind and storm surge, including losses …
