Flood Insurance News

Declarations

Declarations Good drivers “It neither affirms the status quo nor jumps headlong or without controls into the Wild West of competition. The idea is to advantage good drivers and make sure we are not harming good drivers wherever they are.” …

Allstate hit for linking fire renewals to separate wind policy in Miss.

Michael McAndrews would like to know what business Allstate has telling him he must buy wind and hail coverage — or else. McAndrews received a letter July 12 that said Allstate will not renew his homeowner’s coverage for fire and …

Agents in the wind

As is so often the case, insurance agents are caught in the middle. This time it’s in the debate over whether to add wind coverage to the federal flood insurance program. Mississippi Congressman Taylor has inserted language into a House …

S.C. wind pool rates rise 35%

Rates for the South Carolina Wind and Hail Underwriting Association went up an overall 35 percent beginning July 19 under an approval from Scott H. Richardson, director of the South Carolina Department of Insurance. In granting the increase, Richardson noted …

S.C. wind pool rates rise 35%

Rates for the South Carolina Wind and Hail Underwriting Association went up an overall 35 percent beginning July 19 under an approval from Scott H. Richardson, director of the South Carolina Department of Insurance. In granting the increase, Richardson noted …

Editor’s Note: Agents in the wind

As is so often the case, insurance agents are caught in the middle. This time it’s in the debate over whether to add wind coverage to the federal flood insurance program. Mississippi Congressman Taylor has inserted language into a House …

FEMA: La. Sees Drop in New Flood Policies

A large number of people who bought flood insurance after the devastating 2005 hurricane season have not renewed their policies, according to Federal Emergency Management Agency figures. About 100,000 new flood insurance policies were sold in Louisiana after hurricanes Katrina …

S.C. Approves 35% Wind Pool Hike

Scott H. Richardson, director of the South Carolina Department of Insurance has approved changes, effective July 19, 2007, to the rating plan and plan of operation for the South Carolina Wind and Hail Underwriting Association (Wind Pool). Though loss data …

Insurers Balk as House Panel Votes to Add Wind Coverage to Flood Program

Private insurance companies are balking at a decision by a key House panel to expand the federal flood insurance program to include wind coverage. The House Financial Services Committee voted yesterday to add wind coverage to the National Flood Insurance …

RAND Study: Wind Insurance Scarce on Gulf Coast; Challenge for Both Insurers, Government

Many businesses along the Gulf of Mexico coast have had a difficult time obtaining wind insurance coverage since Hurricanes Katrina, Rita, and Wilma hit in 2005 and have often ended up paying more than twice as much for the insurance …