The private insurance industry is ready and anxious to take on flood risk, and politicians should reform the federal program now to take advantage of this interest, according to the U.S. executive of a leading specialty insurer. “I think there …
A $24 billion sea of red ink has millions of Americans in vulnerable flood zones, including homeowners still struggling to recover from Superstorm Sandy, facing steep increases in flood insurance premiums. New legislation that went into effect this month — …
Starting today, when flood insurance policyholders go to renew their policies, they could be quoted premium increases ranging from 15 to 18 percent on average if their home is their primary residence and up to 25 percent if it is …
There’s no easy fix for the National Flood Insurance Program, now drowning in a $24 billion sea of red ink. But experts and advocates say Congress does have some options that could make the troubled program financially stable, more affordable …
The Florida Legislature is moving forward on a plan to entice private insurance companies to sell flood policies in the state that’s the most vulnerable to storm surge. It’s not clear, though, that many private insurers will want to assume …
President Barack Obama is set to sign into law a bipartisan bill relieving homeowners living in flood-prone neighborhoods from big increases in their insurance bills. The legislation, which cleared Congress on Thursday, reverses much of a 2012 overhaul of the …
House GOP leaders last week put the final touches on legislation that would significantly water down a recently enacted overhaul of the much criticized federal flood insurance program, easing many premium increases and allowing below-market rates to be passed on …
Yesterday the National League of Cities joined the Florida League of Cities, Florida Association of Counties and others in meetings with White House officials and members of Congress to urge a halt to flood insurance premium increases prompted by a …
Some flood insurance premiums required under a 2012 law now won’t be raised until the fall of 2015 at the earliest. The Federal Emergency Management Agency (FEMA) said the $1 trillion bipartisan funding bill passed by Congress last month contains …
Senate Majority Leader Harry Reid will do just about anything to help Louisiana’s Mary Landrieu. He arranged the chamber’s floor agenda this week so Landrieu could lead debate on a flood insurance rate reprieve for homeowners in her hurricane-prone state. …
