Flood Insurance News

Sandy Victims in N.J., N.Y., Blast Delays in Flood Insurance Aid

Even as Congress passed the first part of an aid package for victims of Superstorm Sandy, many victims seethed, wondering why it took so long. The $9.7 billion measure approved on Friday, Jan. 4, allows the National Flood Insurance Program …

Mississippi County Lowers Its Flood Insurance Premiums

An improved flood prone rating means Pearl River County residents will see a 10 percent reduction in monthly insurance premiums. The Picayune Item reports that county planner Ed Pinero Jr. says the county has moved from an insurance rating of …

Lawsuit Focuses on Flood Insurance Claims, Classification of Basement

A recently filed class action lawsuit in New Jersey is alleging “improper handling” of certain flood insurance claims arising out of Hurricane Irene in 2011 and Superstorm Sandy in 2012. The lawsuit focuses on the classification of the lowest floor …

Hoboken, N.J., Mayor Urges Congress to Fix Flood Claim Rules

Hoboken, N.J., Mayor Dawn Zimmer told a U.S. Senate committee Hurricane Sandy caused $100 million in damages to the square-mile city across the Hudson River from Manhattan.Zimmer testified before the Senate Committee on Small Business and Entrepreneurship on Dec. 13, …

Fargo, North Dakota, to Offer Buyouts to Residents of 56 Homes

North Dakota’s largest city is planning to offer buyouts to residents of 56 homes next year as part of a plan to protect them from Red River flooding. Fargo officials say the buyouts will likely cost about $24 million, The …

Feds Say Flood Control in Northwest Ohio Could Cost $150M

Flood control for the Blanchard River in Ohio, where there have been several major floods since 2007, could cost up to $150 million or more, according to federal officials. Flood prevention has become a top priority along the river, especially …

NW Ohio Officials Lobby for Flood Control Study

Five years after a major flood swamped northwest Ohio, officials again are pushing for the completion of a flood control study of the Blanchard River area. A six-member regional delegation including the mayors of Findlay and Ottawa traveled to Washington …

Aon Launches Replacement Flood Coverage Call Option

Aon Risk Solutions, the global risk management business of Aon plc has created Flood Secure Flex, a new call option for Flood Secure, to allow U.S. organizations to lock in pricing and terms for replacement flood coverage. Flood Secure Flex …

Flood Insurance Still Relatively Rare in Northeast

Many homeowners who suffered losses because of flooding from Hurricane Sandy are likely to find themselves out of luck. Standard homeowners policies don’t cover flooding damage, and the vast majority of homeowners don’t have flood insurance. Yet it’s likely that …

FEMA to Help Replace University of Iowa Buildings

After months of lobbying and pressure from Iowa’s governor, congressional delegation and others, the federal government said the University of Iowa will get nearly $84 million to replace a flood damaged auditorium and arts and music facilities. The Federal Emergency …