February 24, 2025
As consumer complaints have apparently mounted over unpaid hurricane losses, Florida’s top insurance regulator and some lawmakers are signaling new scrutiny on insurance carriers’ claims-handling and other practices. Florida Insurance Commissioner Michael Yaworsky late last week posted a memo, demanding …
April 26, 2016
Nationwide will start winding down its status this May as a “Write Your Own” carrier within the federal government’s National Flood Insurance Program. Assurant said it formed an agreement with the insurer to fill the gap. Nationwide said it plans …
June 3, 2015
The outgoing director of the National Flood Insurance Program (NFIP) says the program is a “melting iceberg” that is incapable of properly managing its various players including the private insurance carriers that sell policies and handle claims. The government has …
May 26, 2015
Federal officials have agreed to consider a proposal calling for an end to the federal flood insurance model that allows private insurance carriers to write and service policies. Senator Charles E. Schumer, D-N.Y., citing alleged “widespread fraud” and “unjust denials” …
May 20, 2015
National Flood Services, a division of Affinity Insurance Services, has introduced a line of private flood insurance products that will be delivered via the FloodChoice agent system. The new products offer options for consumers and insurance agents. According to John …
April 21, 2015
Prepared Insurance Company (PIC), a Florida property/casualty carrier, has been approved to participate in the Write Your Own Flood Program (WYO). The insurer is offering Florida consumers the ability to purchase flood and homeowners insurance through one carrier with one …
February 20, 2015
The agency responsible for managing the federal flood insurance program has made progress in carrying out key changes mandated by Congress in two recent laws but lacks resources and data to completely implement others, a government report says. [See copy …
October 20, 2014
Insurance broker Marsh has agreed to acquire Torrent Technologies Inc., which serves Write Your Own (WYO) insurers participating in the National Flood Insurance Program (NFIP). Torrent’s approximately 100 employees will combine with Marsh’s existing flood insurance specialists and remain headquartered …