Declarations “The reality is that Citizens offers a one-size-fits-all policy that often leaves coverage gaps and there is a higher probability that assessments could wipe out any perceived savings.” — Jeff Grady, Florida Association of Insurance Agents, upon his group’s …
Florida’s valued policy law means property insurance companies are only responsible for actual damages caused by perils that are specifically cited in the policy, the Florida Supreme Court has affirmed in a key decision. Plaintiffs in the case, who had …
Florida’s valued policy law means property insurance companies are only responsible for actual damages caused by perils that are specifically cited in the policy, the Florida Supreme Court has affirmed in a key decision. Plaintiffs in the case, who had …
The Flood Insurance Subcommittee of the American Academy of Actuaries has reviewed the provisions currently in H.R. 3121 that affect the financial well being of the National Flood Insurance Program (NFIP). In particular, we have analyzed the sections of the …
At the center of the controversy is a provision by Congressman Gene Taylor of Mississippi that would expand the NFIP to include an optional multiple peril policy — to allow property owners to purchase wind and flood coverage in a …
Consumer advice “The reality is that Citizens offers a one-size-fits-all policy that often leaves coverage gaps and there is a higher probability that assessments could wipe out any perceived savings.” — Jeff Grady, Florida Association of Insurance Agents, upon his …
More than two years have gone by, but no one can forget the devastating effects Hurricane Katrina had on the Gulf Coast. Yet legislators and industry leaders continue to debate how to prevent future problems associated with major natural catastrophes. …
The U.S. House of Representatives passed the Flood Insurance Reform and Modernization Act, H.R. 3121, by a vote of 263-146 on Sept. 27, heating up a topic already on fire. While supporting efforts to modernize and strengthen the National Flood …
Declarations Flood reforms “Flood insurance reforms are needed because, as we have seen, storms will become stronger and more intense, and we need a program that can contend with the worst that Mother Nature can throw at us. Simply put, …
5 The number of years recently passed House legislation would reauthorize the National Flood Insurance Program. The measure aims to update the nation’s flood insurance program through 2013, give homeowners the option of purchasing windstorm coverage as part of their …
