Among the lessons to be learned from Hurricane Katrina are that communities and all stakeholders should prioritize flooding as the greatest risk, devote more resources to preventive measures rather than post-event disaster relief, and address current infrastructure weaknesses, according to …
Florida Insurance Commissioner Kevin McCarty said on Aug. 14 that the National Flood Insurance Program’s (NFIP) rates for Florida may be “unfairly discriminatory” and that his office will ask for the actuarial study, including data and models used to determine …
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 …
A new report suggests the federal flood insurance program may want to target mitigation grants to households with high premiums, urge homeowners to select higher deductibles, expand the educational role of insurance agents, and provide mitigation loans to help make …
The threat of a flood insurance nightmare in Louisiana’s Rapides Parish and elsewhere was delayed, but not eliminated, by Congress last year. But the threat is slowly diminishing as work proceeds to fix deficiencies in the Red River levees to …
The National Association of Professional Insurance Agents (PIA) has formed a partnership with Floodbroker.com that allows agents to sell flood insurance. Through PIA’s exclusive partnership, PIA members’ clients and prospects will be able to learn about their flood risks and …
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 …
Florida-based national insurance broker Brown & Brown, Inc. has agreed to acquire The Wright Insurance Group, LLC for $602.5 million from Aquiline Capital Partners, Wright’s lead equity partner. The Wright Insurance Group (TWIG), with $114 million in revenues, is a …
Federal Emergency Management Agency (FEMA) said 17 New Jersey municipalities are being recognized in two awards ceremonies this week for reducing their flood hazard risk through FEMA’s Community Rating System (CRS). Residents in participating municipalities are eligible for incremental premium …
Maine communities are criticizing new maps proposed by the federal government that show future flooding risks near the state’s coast that could impact what kind of insurance property owners must buy. The Flood Insurance Rate Maps released in November by …
