Consumer advocates encourage president Obama to speak out on NFIP during State of the Union address

President Obama will be delivering the annual State of the Union address this week on the 24th of January. In the past, the president has used this occasion to highlight some of the major issues that have put the nation on edge. He has also outlined plans legislators have come up with to fix a number of these problems. This year, consumer advocates from SmarterSafer.org are urging the president to make a statement regarding the state of the National Flood Insurance Program (NFIP). Thousands of people get their flood insurance…

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“Superstorm” strikes Alaska – Severe damage from wind and floods expected by insurers

The National Weather Service has issued a warning to Alaska for what it is calling “The Bering Sea Superstorm” The storm made landfall in the Western parts of the state earlier today, bringing powerful waves and hurricane-force winds. The National Weather Service fears that the storm may cause extensive damage to coastal properties as well as power outages throughout the state. Alaska’s insurance industry will likely be busy for the remainder of the year as it attempts to recover from the event. According to the NWS, winds of 89mph and…

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PRESS RELEASE: Smartersafer.org Urges Congressional Supercommittee to Save Taxpayer Dollars by Reforming NFIP

WASHINGTON ‒ In a letter to Senator Patty Murray (D-WA) and Representative Jeb Hensarling (R-TX), SmarterSafer.org urged the Joint Select Committee on Deficit Reduction to protect taxpayers and reduce inefficient federal spending by reforming the National Flood Insurance Program (NFIP). Murray and Hensarling are co-chairs on the committee, which is charged with finding federal deficit reduction measures. “Our diverse coalition believes that Congress could protect taxpayers and reduce inefficient federal spending by reforming NFIP,” said SmarterSafer.org in the letter. “For over 40 years, the federal government, through NFIP, has provided…

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Floods in Thailand claim hundreds of lives and displace thousands more

Devastating floods struck Thailand last week and threatened to cause catastrophic damage to the nation’s capital, Bangkok. The floods are the result of heavy rainfall and violent storms that have been occurring throughout the country and in neighboring Myanmar. The recent floods are the worst the country has experienced in over 50 years and have killed more than 350 people thus far. Thousands more have been displaced as the relatively few insurance organizations operating in Thailand attempt to mitigate the disaster. The Thai government, led by Prime Minister Yingluck Shinawatra,…

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Flood insurance companies prepare for a potentially disastrous summer

The National Oceanic and Atmospheric Administration’s National Weather Service announced last week that this summer’s flooding season may be the worst on record. Both the Mississippi and Missouri Rivers are currently overrunning their banks, inundating much of their surrounding areas with water. There are also several other, smaller rivers , that are also flowing over as well. Some have served as emergency spillovers for larger rivers, but none have been able to stem the flow of the water. Much of the flooding is due to storms far to the north,…

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Queensland flood insurance investigation reveals that nature wasn’t the only culprit

According to experts that were hired by insurance companies to do a further check into the damages that occured during the Queensland floods, found that the Wivenhoe Dam  was a contributing factor.   The owner of NRMA and CGU, Insurance Australia Group reported in detail how the water that was released from Wivenhoe including the heavy and continuous rainfall contributed to the flooding of the homes and businesses in the said Australia state. However, it was not reported how much of the damage can be blamed on Wivenhoe during the flood that…

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