rising flood insurance premiums News

Penn. Hails House Committee Passage of Private Flood Insurance Bill

Pennsylvania Insurance Commissioner Teresa Miller hailed a recent vote by the U.S. House of Representatives Financial Services Committee approving the Flood Insurance Market Parity and Modernization Act (H.R. 2901). Miller said this legislation encourages more private insurers to write flood …

Penn. Encourages Homeowners to Look at Private Market Flood Coverage

The Pennsylvania Insurance Department has created a new “one-stop shop” webpage to make information on private market flood insurance more accessible to Pennsylvania homeowners and renters. In announcing the new webpage, Pennsylvania Insurance Commissioner Teresa Miller said Pennsylvania homeowners, who …

Franklin, Indiana, Faces Big Change in Flood Plain Maps

Hundreds of homes and businesses in a central Indiana city hit hard by flash flooding seven years ago could face hefty jumps in their insurance costs if updated federal flood plain maps are approved. About 70 percent of Franklin’s industrial …

North Carolina Coastal Homeowners Weigh Self-Insuring for Floods

Bill Cherry has seen his share of storms buffet his house and his Breezeway Restaurant and Motel near Topsail Beach in North Carolina, a slip of a barrier island just over two blocks wide. But, with sharp increases in premiums …

Groups Urge Congress to Target Flood Insurance Fix to Help Needy, Not Wealthy

Opponents of delaying Biggert-Waters flood insurance reforms and stopping the resulting premium hikes say the negative effects are being exaggerated and instead of gutting all of the reforms, Congress should target its fix, including using means-testing, to those who most …

Flood Insurance Premiums Rising Along New Jersey Coast

Hundreds of New Jersey flood insurance policyholders will soon be facing higher premiums spurred by sweeping changes to the federal law that will take effect Tuesday. The increases stem from legislation passed in June 2012 that requires all flood insurance …

N.J. Group to Rally Against Rising National Flood Insurance Premiums

Toms River, N..J., homeowner George Kasimos wants to make sure that lawmakers in Washington, D.C., hear the growing concerns of his shore community and other communities across the country. Kasimos started a grassroots organization called “Stop FEMA Now” last January …