Assurant, Inc. has expanded its new private flood insurance to Texas homeowners. Assurant Primary Flood Insurance, introduced in Florida last month, offers structural coverage up to $800,000 and up to $250,000 in contents coverage, at competitive rates that include no …
Opening U.S. flood insurance to private insurers won’t lead to a surge of new market entrants, Standard & Poor’s asserts in a new report. Even if Congress passes legislation to make the change as it is widely expected to do, …
“We think the time is right for you all to explore the [Florida] flood insurance market.” That was the message Florida Senator Jeff Brandes gave insurance industry attendees at the first ever Florida Flood Insurance Conference on Dec. 9 in …
The private insurance industry is ready and anxious to take on flood risk, and politicians should reform the federal program now to take advantage of this interest, according to the U.S. executive of a leading specialty insurer. “I think there …
National Flood Services, a division of Affinity Insurance Services, has introduced a line of private flood insurance products that will be delivered via the FloodChoice agent system. The new products offer options for consumers and insurance agents. According to John …
Five federal regulatory agencies are seeking comment on a proposed rule pertaining to loans secured by property located in special flood hazard areas. The rule, part of a broader proposal first offeerd last October, would implement provisions of the Homeowner …
One of the first entities to step forward and provide private flood insurance in Florida has announced it will stop writing new business in the Tampa Bay region in order to manage its exposure. The Flood Agency, which offers private …
Privatization of the National Flood Insurance Program (NFIP) would present a huge growth opportunity to the property/casualty market, allowing insurers to tap into about $3.3 billion of yearly premiums. But the flood insurance market has a long way to go …
There’s no easy fix for the National Flood Insurance Program, now drowning in a $24 billion sea of red ink. But experts and advocates say Congress does have some options that could make the troubled program financially stable, more affordable …
The West Virginia House last Friday in a 86-8 vote passed a bill authorizing private insurers to sell flood insurance and setting out guidelines for regulation of the policies. The bill, SB 621, had previously passed the Senate 34-0 on …
