National Flood Insurance Program News

U.S. Rolls Out First Update to Flood Insurance Pricing in 50 Years

NEW YORK — Hundreds of thousands of Americans will pay significantly more to insure their homes in coastal areas and flood zones under new rules released on Thursday by the Federal Emergency Management Agency (FEMA), the first major update to …

Emergency Experts Contemplate What FEMA Should Do Next

Perhaps no single federal agency has been tested as much by 2020 as the Federal Emergency Management Agency. It has been a year of disaster. In addition to Covid-19, it was the busiest Atlantic hurricane season on record, and wildfires …

Delta Losses Bring Hurricane Damages to $26B for Year

Hurricane Delta caused from $700 million $1.2 billion in insured losses from wind damage and storm surge, and an additional $800 million to $1.5 billion in losses to offshore structures, CoreLogic said Tuesday. The damage is far less than estimated …

Viewpoint: How Engineering Fraud Inspired Birth of the American Policyholder Assn.

The morning dawned cold and gray on Feb. 18, 2015 in Uniondale, N.Y. Law enforcement officers gathered outside the offices of HiRise Engineering.1 It was a leading engineering firm that issued storm-damage causation reports for some of the nation’s largest …

FEMA Urged to Adopt Parametric Insurance and Blockchain to Address Coverage Gap

Blockchain technology and parametric insurance should be included in the Federal Emergency Management Agency’s toolbox as it strives to close the nation’s flood insurance coverage gap, according to a draft report by an advisory committee that makes recommendations to the …

Advocates Push Model Law for Private Flood, Quibble about Education Mandate

An organization of state lawmakers is moving ahead toward adoption of a “model law” designed to encourage the sale of private flood insurance, even though insurers don’t think any new state laws are necessary and agents think the current draft …

Growing Private Flood Market Will Test Claim Professionals

A nudge into the market by carriers offering private flood insurance is becoming more of a shove, which might bring new opportunities for claims adjusters and maybe create a more efficient claims process along the way. An executive for Munich …

Southern Illinois Village at Risk if no FEMA Levee Approval

PRAIRIE DU ROCHER, Ill. — The fate of a Mississippi River levee that’s awaiting a decision on federal accreditation could put a southern Illinois village at risk of destructive flooding, the village president says. If the levee in Prairie du …

Senate Passes $19.1 Billion Relief Package for Natural Disasters

The Senate passed a $19.1 billion disaster-aid plan Thursday for areas hit by hurricanes, Midwest floods and California wildfires after lawmakers resolved months of disagreement over funds for Puerto Rico. President Donald Trump said he supports the bill. The 85-8 …

Climate Advocates Cheer Trump Policy Shift on Flood Insurance

About the photo: A member of a search and rescue team wades through floodwaters after Hurricane Florence in Carolina Beach, North Carolina on Sept. 17, 2018. Photographer: Callaghan O’Hare/Bloomberg Climate advocates say an overhaul of the nation’s flood insurance program …