FEMA Adds $575M Reinsurance Coverage for NFIP March 11, 2024 The Federal Emergency Management Agency (FEMA) late last week said that for the seventh time it went to the insurance-linked...
Newer, Elevated Structures Had Much Smaller Flood Claims in Ian, FEMA Says February 6, 2024 By Insurance Journal Staff Reports Hurricane Ian caused extensive damage in southwest Florida, with more than 37,000 National Flood Insurance Program claims, making it the...
FEMA Adds Nearly $620M to Reinsurance Program January 8, 2024 FEMA announced that the agency is transferring $619.5 million more of the National Flood Insurance Program’s financial risk to the...
Louisiana, 9 Other States Ask Federal Judge to Block Increases in National Flood Insurance Program September 18, 2023 By Kevin McGill NEW ORLEANS (AP) – Increases in federal flood insurance premiums that are projected to surpass 700% over the coming years...
Horseshoe Beach Hopes to Rebuild After Idalia, But Most Had No Flood Insurance September 5, 2023 HORSESHOE BEACH, Fla. (AP) — This remote seaside enclave known as “Florida`s Last Frontier” took much of the pounding from...
Federal Reserve Fines Alabama Bank $3M for Flood Insurance Monitoring Issues August 24, 2023 By Insurance Journal Staff Reports The Federal Reserve Board has fined Regions Bank, based in Birmingham, Alabama, almost $3 million for failing to ensure that...
Private Flood Insurers See Opportunity as NFIP Increases Rates August 21, 2023 While the National Flood Insurance Program (NFIP) rolls out a new rating program generating premium increases for many policyholders, the...
Mayfield, Kentucky, Hit by Floods 18 Months After Devastating Tornado July 20, 2023 By Staff and Wire Reports Parts of Kentucky cannot seem to catch a break from extreme weather events. Some 18 months after a powerful tornado...
Senator Says DeSantis’ Veto of Flood, Other Projects is Political Retaliation June 21, 2023 Florida Gov. Ron DeSantis has vetoed flood-control and other measures in central and west Florida and at least one Republican...
FEMA Releases New Flood Insurance Rates by ZIP Code. Brace for Impact. May 8, 2023 By William Rabb When the Federal Emergency Management Agency unveiled its new Risk Rating 2.0 methodology for calculating flood insurance, advocates and critics...