August 14, 2015
A federal appeals court has decided that last month’s upholding of a jury’s insurance fraud ruling will stand, allowing whistleblowers who sued State Farm Fire and Casualty Co. to seek more evidence of fraud after 2005’s Hurricane Katrina. The Sun …
August 6, 2015
Munich Reinsurance America, Inc. has launched a new personal lines inland flood insurance product designed to provide more options for homeowners in low-to-moderate-hazard flood zones. According to the National Flood Insurance Program (NFIP), flood is the most common natural disaster …
June 18, 2015
Insurance regulators in Louisiana and Oklahoma are are encouraging folks with flood insurance policies to file claims from recent flooding in those states as soon as possible. FEMA’s National Flood Insurance Program (NFIP) requires homeowners to file a Proof of …
June 3, 2015
The outgoing director of the National Flood Insurance Program (NFIP) says the program is a “melting iceberg” that is incapable of properly managing its various players including the private insurance carriers that sell policies and handle claims. The government has …
May 26, 2015
Federal officials have agreed to consider a proposal calling for an end to the federal flood insurance model that allows private insurance carriers to write and service policies. Senator Charles E. Schumer, D-N.Y., citing alleged “widespread fraud” and “unjust denials” …
April 14, 2015
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 — …
March 31, 2015
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 …
February 20, 2015
The agency responsible for managing the federal flood insurance program has made progress in carrying out key changes mandated by Congress in two recent laws but lacks resources and data to completely implement others, a government report says. [See copy …
January 5, 2015
State Farm Fire and Casualty Co. has appealed an order that it pay legal fees and damages of $3 million in a whistleblower lawsuit in which a jury found the insurer defrauded the government in a policyholder claim after Hurricane …
September 23, 2014
Newly-released preliminary flood maps for Aransas and San Patricio counties in Texas will help residents and business owners to determine their flood risks and make informed decisions, according to the Federal Emergency Management Agency (FEMA). County officials and FEMA are …