Latest Flood Headlines
All the headlines from our Flood Topic Page, ordered by recency.
Private Flood Insurance Provider Steps Into Connecticut Market
Feb 3 2014 // A private flood insurance provider has stepped into Connecticut’s market, the first time homeowners along the shoreline battered by Superstorm Sandy have an alternative to increasingly costly federal insurance. The...
Flood Insurance and the Phantom Real Estate Crash
Jan 31 2014 // To hear proponents tell the tale, the reason the U.S. Senate voted yesterday to gut reforms to the National Flood Insurance Program that it had approved overwhelmingly just 18 months earlier was to stem the effects of the...
UK Insurers to Pay Out $701 Million from December, January Floods
Jan 31 2014 // The insured bill for the damage caused by the storms and flooding over the Christmas 2013 and New Year period looks set to cost £426 million [$701 million], according to the Association of British Insurers (ABI). The ABI...
Prior Experience Heightens Perceptions of Disaster Risks
Jan 31 2014 // People who have experienced a disaster such as an earthquake, flood, or terrorist attack have a heightened perception of the risks posed by these and, in some cases, unrelated risks, according to a study involving 1,045...
Senate Passes Flood Insurance Delay, Agent Licensing Bill
Jan 30 2014 // The Senate passed a bill Thursday to delay certain flood insurance rate hikes and create a national registry for licensing insurance agents by a vote of 67-32. (See how senators voted at end of story.) The bill delays the...
N.J. Commissioner Offers Insurance Purchasing Tips for Small Businesses
Jan 30 2014 // Making the right insurance choices can have significant impact on the small business owner’s operation costs. With that in mind, New Jersey Department of Banking and Insurance Commissioner Ken Kobylowski offered some...
Senate Begins Amending Bill to Halt Flood Insurance Rate Increases
Jan 30 2014 // The Senate has begun adopting amendments to the bill (S.1926) that seeks to delay flood insurance premium increases called for under the Biggert-Waters Flood Insurance Reform Act of 2012. The Senate bill would halt premium...
Homeowners of America Insurance Co. Offering Flood Coverage in Texas
Jan 29 2014 // Homeowners of America Insurance Co. (HOAIC), a Texas-based property and casualty insurance company, is expanding its products to offer flood insurance to its policyholders in Texas. Homeowners of America flood insurance...
Why Obama Should Support Delaying Biggert-Waters Flood Insurance Hikes: Opinion
Jan 28 2014 // The following is an opinion from Michael Hecht, president and CEO of Greater New Orleans Inc. and the Coalition for Sustainable Flood Insurance, regarding the White House’s opposition to the Homeowner Flood Insurance...
White House Balks at Flood Insurance Delay, Agent Licensing Bill
Jan 28 2014 // The Obama Administration has problems with the Senate bill that would delay flood insurance premium increases and create an agent licensing registry. The bill, S.1926, was cleared for debate on a procedural vote, 86-13,...
Senate Takes First Step on Flood Insurance, Agent Licensing Bill
Jan 27 2014 // The Senate voted 86-13 early Monday evening to proceed with debate on a bill to both delay some flood insurance premium increases and establish an optional national registry for insurance agent and broker licensing. That...
Data Shows Hoboken’s Share of Sandy Aid on Par With Other N.J. Towns
Jan 27 2014 // The city whose Democratic mayor said New Jersey’s GOP Gov. Chris Christie’s administration tied Superstorm Sandy aid to her support for a real estate project has, so far, received a level of aid from state-run...
Key Flood and Crop Insurance Votes Could Come This Week
Jan 27 2014 // This week could see important Senate votes on a bill on the federal flood insurance program that is linked with an agent and broker licensing measure, as well House approval of a farm bill that includes crop insurance and...
House Dampens Prospects for Broad Flood Insurance Delay
Jan 27 2014 // The Senate (72-26) recently joined the House of Representatives (359-67) in passing a $1.1 trillion compromise omnibus spending bill that contains a delay for an estimated one quarter of those facing flood insurance...
Understanding the Biggert-Waters Flood Insurance Reform Act of 2012
Jan 27 2014 // Flood insurance has been a staple of development since 1968 when it was created by the federal government. There are more than 20,200 communities, and as of June 30, 2011, the program had nearly 5.6 million policies in...
Global Natural Disasters Cost Insurers $45B in 2013
Jan 27 2014 // In 2013, there were 296 separate natural disaster events that produced total economic losses of $192 billion – four percent below the 10-year average of $200 billion, but above the average 259 events, according to a...
Survey: Execs Expect Flood Insurance Delay, TRIA Renewal, Industry Consolidation
Jan 27 2014 // A survey conducted at the Insurance Information Institute’s Property/Casualty Insurance Joint Industry Forum in New York this month asked industry leaders for their outlook on 12 topics – ranging from the Terrorism...
Biden, Cuomo Team Up to Promote Smarter Rebuilding
Jan 27 2014 // Vice President Joe Biden and New York Gov. Andrew Cuomo said this month New York and the nation’s other coastal states have to rebuild against severe storms and flooding that are likely in the future. “Extreme...
Homeowners Choice Sells First Flood Policy in Florida
Jan 24 2014 // Homeowners Choice Property & Casualty Insurance Co., Inc., a Florida based provider of admitted homeowners insurance and wholly-owned insurance subsidiary of HCI Group, Inc., is now selling flood insurance to existing...
How to Encourage Private Flood Insurance; Why Delaying Biggert-Waters Is Not the Answer
Jan 24 2014 // New technologies and a better understanding of flood risk may have increased private insurers’ interest in providing flood insurance but real obstacles remain to the private sector getting involved. The obstacles...
