The National Flood Insurance Program has paid out $364 million on flood claims from Hurricane Idalia, the storm that swamped part of Florida in August. That’s a fraction of the $3.2 billion NFIP paid after Hurricane Ian, a much larger …
Hurricane Ian caused extensive damage in southwest Florida, with more than 37,000 National Flood Insurance Program claims, making it the fourth-most expensive flood disaster in U.S. history, says a new report from the Federal Emergency Management Agency. As other studies …
Federal lawmakers introduced a bill to create a federal natural catastrophe backstop recently, reacting to insurers’ issues with growing private reinsurance costs. But a trade group for carriers suggested that a federal remedy could create more problems. “Federal solutions to …
Hurricane Idalia unleashed its fury on northwest Florida on Wednesday morning, landing in a sparsely populated area with winds of 125 miles (201 kilometers) per hour and 9 feet of storm surge. Although the urban conglomeration of Tampa-St. Petersburg was …
Did you know that a residential structure is three times as likely to experience a flood than a fire over the 30-year life of a mortgage? In fact, flooding is the most common type of natural disaster in the United …
Researchers at North Carolina State University have added their voices to the growing number of people who say that federal flood maps are inadequate and misleading, causing thousands of homeowners to avoid needed flood insurance. “In fact, only about 4% …
The Federal Emergency Management Agency is reminding flood insurance policyholders hit by Hurricane Ian that they have an extra three months to renew their expiring policies. The agency said last week that Florida property owners with National Flood Insurance Program …
State Farm Fire and Casualty Co. and two former claims-adjuster sisters, who more than 16 years ago filed a lawsuit claiming the insurer committed fraud against the government’s National Flood Insurance Program following Hurricane Katrina, have settled. According to documents …
When the Federal Emergency Management Agency rolled out a major overhaul to its beleaguered National Flood Insurance Program last April, it promised that bigger, richer homes would bear the brunt of premium increases, while almost 90 percent of policyholders would …
WASHINGTON (AP) –In the past year, the southwestern Louisiana city of Lake Charles weathered two hurricanes, intense rainfall that sent water gushing down streets and a deep freeze that burst pipes. Yet Tommy Eastman may eventually drop coverage on his …