Latest Flood Headlines
All the headlines from our Flood Topic Page, ordered by recency.
Munich Re, Hannover Re Expect Rising Prices After Floods in Germany
Oct 18 2021 // German reinsurance companies Munich Re and Hannover Rueck said on Monday they expect rising prices for their business in Europe next year, citing mid-July floods in central Europe, inflation and the coronavirus...
Michigan Expects New Flood Insurance Rating System Will Lower Premiums; Coastal States Disagree
Oct 18 2021 // While lawmakers from various coastal states are decrying the new flood insurance rating system rolled out by FEMA and the National Flood Insurance Program (NFIP) on Oct. 1, Michigan insurance regulators expect Risk Rating...
25% of Infrastructure Under Flood Risk in 30 years; FEMA Wants Input on Standards
Oct 13 2021 // Just as new research shows that a fourth of the critical infrastructure in the U.S. – along with an increasing number of homes and businesses – are at risk of flooding in the next 30 years, FEMA is seeking public input...
AccuWeather: Texas to See Excessive Rain, Flooding from Hurricane Pamela
Oct 13 2021 // Pamela will not only pose significant dangers across Mexico, as it pushes inland after making landfall as a Category 1 hurricane Wednesday morning, but its impacts will also be felt across parts of the United States while...
Flooding in Alabama Kills 4, Damages Buildings
Oct 8 2021 // Four people were killed in Alabama Thursday when torrential rains drenched parts of the state, flooding roads and buildings and causing a sewage overflow. All four deaths, including that of a 4-year-old girl in North...
Corps of Engineers Partners With Mother Nature in Flood Control Initiatives
Oct 7 2021 // The U.S. Army Corps of Engineers is known for damming rivers and building levees to keep waterways at bay. But a new initiative seeks natural flood control solutions as climate change brings increasingly frequent and...
July’s European Floods Generated Largest Non-U.S. Insurance Industry Loss in 2021
Oct 7 2021 // The extreme flooding event in Western Europe in mid-July generated the largest insurance industry loss figure so far this year – at current estimates of US$11.0 billion, according to CRESTA, the insurance industry...
More Cities Face Tough Choice: Rebuild in Flooded Area or Move
Oct 6 2021 // Like a growing number of communities across the country, the west Tennessee town of Waverly faces a difficult dilemma: Whether to rebuild hundreds of homes that were recently flooded — or move to higher...
FEMA Flood Insurance Update Could Mean Higher Premiums in Connecticut
Oct 6 2021 // Flood insurance premiums figure to increase for thousands of Connecticut residents when the federal government implements a new rate system, some by as much as $100 per month – but most by up to $10 monthly. The...
‘Ambiguous’ Flood Deductible May Cost Carriers That Insured New Orleans Hotel
Oct 5 2021 // The redevelopment of the historic Jung Hotel and Residences in downtown New Orleans flooded four times before renovations were complete. The two insurers that issued a builder’s risk policy for the project thought...
Swiss Re Estimates Europe’s July Floods to Cost Insurers $12 Billion
Oct 5 2021 // Swiss Re estimated total insured market losses of the insurance industry due to the July floods in Europe at approximately US$12 billion. The insurer also updated its own loss estimate for the July floods at approximately...
U.S. Senators See ‘Actuarial Disaster’ on the Horizon with Flood Risk Rating 2.0
Oct 4 2021 // U.S. senators from coastal states are predicting “an actuarial disaster” in the future once FEMA’s new flood insurance rating systems goes into full swing. In a press call on Sept. 30, Louisiana Sen. Bill...
Michigan DIFS Expects New Flood Insurance Rating System to Lower Costs in the State
Oct 4 2021 // The Michigan Department of Insurance and Financial Services (DIFS) said the National Flood Insurance Program (NFIP) estimates that under its new rating system more than 52% of Michigan flood insurance policies will see...
Neptune Flood Acquires Parametric Earthquake Insurance Broker Jumpstart
Oct 4 2021 // Digital flood insurance provider Neptune Flood has acquired Jumpstart Insurance Solutions, a parametric insurtech broker that offers parametric earthquake policies. Terms were not disclosed. Jumpstart, a licensed surplus...
Rates to Rise for Millions of Homeowners Under National Flood Insurance Program
Oct 4 2021 // The federal government Friday rolled out a flood-insurance program revamped to reflect worsening climate change, a program that will raise rates for millions of homeowners in wealthy coastal areas and humble inland...
Private Flood Insurance Market Small But May Grow With New NFIP Rating: AM Best
Oct 4 2021 // The country’s flood insurance market is slowly transitioning toward private insurers providing additional options to the federal government’s program for those seeking coverage, according to a new AM Best...
Approval of Funding Until Dec. 3 Averts Government Shutdown, Renews Flood Program
Sep 30 2021 // Congress on Thursday passed a last-minute, short-term funding measure, averting a government shutdown that would have curtailed federal operations including the National Flood Insurance Program. The Senate was the first...
Willis Re Launches Flood Model for MENA Region
Sep 30 2021 // Willis Re has launched a new flood model for the Middle East and North Africa (MENA) region, which enables re/insurers to quantify their flood risk using a catastrophe model. Currently the model covers Morocco, the United...
Amid Uncertainty Over Flood Insurance, Florida County Declares Emergency After Unprecedented Rainfall
Sep 29 2021 // In what may be a sign of the climate times, a Florida county has declared a local state of emergency after a weather event — even without hope of much assistance from the state or federal government. The declaration...
Flood Insurance Program Expires Tomorrow Unless Congress Acts
Sep 29 2021 // As Democrats and Republicans in Washington continue to haggle over government debt and spending, federal flood insurance is among the programs facing disruption. Without renewed funding, a government shutdown would begin...
