The head of the National Flood Insurance Program said Wednesday early estimates show Hurricane Harvey will result in about $11 billion in payouts to insured homeowners, mostly in southeast Texas. That would likely put Harvey as the second costliest storm …
Homeowners suffering flood damage from Harvey are more likely to be on the hook for losses than victims of prior storms – a potentially crushing blow to personal finances and neighborhoods along the Gulf Coast. Insurance experts say only a …
The images from Houston, Texas, in the aftermath of Hurricane Harvey are horrific and heartbreaking, with homes fully submerged and residents being rescued by boats and helicopters. And that’s just the physical toll. Many residents of the fourth-largest U.S. city …
Democrats and Republicans, who have agreed on little this year, have found common ground on plans to give private insurers greater access to the $5 billion flood insurance program and to offer more buyouts for homeowners in areas likely to …
It’s been more than two months since northern Utah resident Wyatt Brammer’s house was damaged from flooding and he still hasn’t gotten it fixed. After 33 inches of water filled his basement, he said, it could cost as much as …
The cost of federal flood insurance is expected to rise for thousands of Houston, Texas, homeowners as Congress looks to overhaul a program that’s billions of dollars in debt. The National Flood Insurance Program provides coverage to more than 300,000 …
Virginia suffered only a glancing blow from Hurricane Matthew last month when unprecedented amounts of rain fell, but on Wednesday officials estimated flood damage to be hundreds of millions of dollars, making it the costliest storm since Hurricane Isabel in …
According to the National Climate Assessment, a report released by the U.S. Global Change Research Program, climate change increases the probability of heat waves, drought, heavy downpours, floods, hurricanes and creates more extreme winter storms. With experts suggesting the most …
New data analysis released by CoreLogic indicates that in the Orleans Parish, which encompasses the city of New Orleans, nearly 60,000 homes with a reconstruction cost value of more than $12 billion will no longer be located in a designated …
The federal government has contracted with private reinsurers to improve the National Flood Insurance Program‘s claims paying ability and reduce the need for the NFIP to borrow from the U.S. Treasury to cover future claims. The Federal Emergency Management Agency …