Federal flood insurance program swamped by repeat claims

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NFIP struggles with debate over paying one claim after the next or supporting structure elevations. The federal flood insurance is finding itself drowning in repeat claims made by the same properties that experience regular flooding. At the same time that Congress is trying to work its way through a slew of bills for reauthorizing the National Flood Insurance Program (NFIP), that same program is paying out multiple times to the same claimants. This has created a call for reducing the number of repeat flooding incidences in order to shrink repeat…

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Allstate uses insurance drones to assess storm damage

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The insurer is using the technology to get a better idea of the property damage situation from spring storms. Allstate is using insurance drones to conduct an assessment of the property damage left behind by spring storms in four states. The company already owns the technology in a number of locations and was prepared to implement it when it was needed. In preparation to use the drones, Allstate Insurance readied itself with a solid fleet of the technology. The Allstate fleet of insurance drones are either ready or already being…

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Home flood insurance for high risk properties may be cancelled

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Congress is currently looking at the National Flood Insurance Program and coverage for troublesome locations. The United States Congress may soon take the axe to home flood insurance coverage for properties that are regularly flooded. It is looking specifically at the way communities deal with some of the properties that flood the most. They are the locations that make the most frequent National Flood Insurance Program (NFIP) claims and receive the most payouts. New bipartisan legislation could require communities to handle repeated loss patterns from flooding. The existence of home…

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Agents see surge in interest regarding flood insurance

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Consumers are becoming more interested in flood protection Agents are making note of a surge in flood insurance sales as homeowners seek protection from disastrous events. Recent storms have caused floods in several parts of the country, and many people affected by these disasters have learned that their homeowners insurance policies do not offer the protection they need. Most typical homeowners policies do not offer flood protection, which can only be found through the National Flood Insurance Program, managed by the Federal Emergency Management Agency. Homeowners may be too slow…

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FEMA to review rejected flood insurance claims

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FEMA will be reviewing claims associated with Hurricane Sandy The Federal Emergency Management Agency (FEMA) has announced that it will begin reviewing flood insurance games that are related to Hurricane Sandy. In late October of 2012, a powerful storm struck the eastern United States, causing severe damage to properties with its strong winds. The majority of the damage caused by the storm came from flooding, however, and many homeowners found themselves in a difficult situation due to their lack of flood insurance coverage. Homeowners find that their policies do not…

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Insurance news made as FEMA takes new flood claim review direction

hurricane sandy flood insurance news

This, as the Federal Emergency Management Agency has admitted that they have evidence of fraud. Officials from the Federal Emergency Management Agency (FEMA) have now made insurance news as they have agreed to provide the victims of Superstorm Sandy who feel that their claims have not been properly paid, with another opportunity to receive a review. This could provide as many as 144,000 claims with the chance to undergo a fresh review. Moreover, the review opportunity is also making FEMA flood insurance news as it will not be limiting the…

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FEMA to review flood insurance claims

FEMA flood insurance

FEMA will review rejected and underpaid policies that were produced by Hurricane Sandy The Federal Emergency Management Agency (FEMA) has agreed to review the flood insurance claims that have been the subject of controversy. These claims were produced in the wake of Hurricane Sandy, but many were rejected or policyholders did not receive fair payment due to various issues. Those who had their flood insurance claims rejected or mishandled have accused the insurers behind these policies of fraud, which has brought harsh criticism against the National Flood Insurance Program. 144,000…

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