The threat of sea-level rise should force policymakers to rethink policies that encourage development in flood-prone regions. One place to start is with the National Flood Insurance Program (NFIP), according to the Washington, D.C. free market think tank R Street. …
Tropical Storm Imelda landed on the Texas Gulf Coast on September 17, 2019. Over the three-day duration of the storm, 43 inches of rain saturated some locations, with nearly 30 inches falling over a 12-hour period. Some areas got hit …
Blockchain technology and parametric insurance should be included in the Federal Emergency Management Agency’s toolbox as it strives to close the nation’s flood insurance coverage gap, according to a draft report by an advisory committee that makes recommendations to the …
President Donald Trump signed legislation on Thursday that will extend funding for a wide range of federal agencies through Dec. 20 and avoid partial government shutdowns that otherwise would have begun on Friday. An administration official said Trump signed the …
The federal government is delaying implementation of a major change to its pricing formula for federal flood insurance that bases rates on a more accurate assessment of the real flood threat for each home and reflects the cost of rebuilding …
Not long ago, private flood insurance was thought to be an impossible dream in the property/casualty sector. There were numerous arguments supporting the common wisdom that a meaningful market for residential flood coverage from admitted private insurers would never exist. …
On an exclusive Connecticut peninsula, where signs warn outsiders to stay off private roads, eight multimillion-dollar homes with sprawling yards along the Long Island Sound are poised to become eligible for taxpayer-funded disaster aid. That’s despite the fact that the …
In the past five years, all 50 states have experienced some type of flooding. Flooding has led to disasters throughout the decades, and this year, it is expected to become unprecedented yet again. Despite a long history of flood-related disasters …
The Federal Association for Insurance Reform (FAIR), formerly the Florida Association for Insurance Reform, is expanding nationwide with a focus on reducing uninsured flood risk across the United States. FAIR is a non-partisan, non-profit consumer advocacy group focused on providing …
The National Association of Insurance Commissioners (NAIC) released an online quiz, “What the Flood!,” as part of its #YourRiskIsReal campaign, an ongoing effort to educate consumers about flood risks and the need to consider purchasing flood insurance. The short, interactive …
