Live Insurance News

Record number of homeowners purchase flood insurance in California

February 25, 2016February 24, 2016 Nordstrom

FEMA reports that more flood policies have been sold through NFIP this year The number of homeowners in California that have purchased flood insurance coverage has grown significantly, according to the Federal Emergency Management Agency (FEMA). This is due to worry concerning El Nino, which may result in several powerful storms in California. Heavy rainfall in the state may be good news for some, as California has been suffering from a severe drought, but this rainfall comes with the risk of flood disasters in several parts of the state. Worries…

UK’s flood insurance program could face major risks in the future

February 15, 2016February 13, 2016 S.Vagus

Rise in house building may increase the risks of flood damage for some households The demand for housing is growing rapidly in London and this could lead to a surge in flood risks throughout the city. This could place the United Kingdom’s flood insurance program, called Flood Re, under a great deal of pressure, according to researchers from the University of Oxford. Researchers believe that the number of households eligible for Flood Re coverage will grow as much as 75% in the coming years. Flood Re program will launch in…

Missouri homeowners are being encouraged to purchase flood insurance coverage

February 8, 2016February 7, 2016 S.Vagus

Consumers and businesses alike are being urged to acquire flood insurance Missouri homeowners, business owners, and renters are being encouraged to purchase flood insurance coverage, even if their properties are not located in risk-prone areas. Floods have caused significant damage in the past due to heavy rainfall and powerful storms. In Missouri, those without flood protection are being urged to acquire coverage in order to adequately protect themselves and their properties. Typically, however, the only place for people to find coverage is through the National Flood Insurance Program. Agencies in…

Disasters place more attention on the National Flood Insurance Program

January 22, 2016January 20, 2016 Marc

Severe flooding has placed more focus on the federal flood insurance program Devastating floods in Missouri and Texas have highlighted, yet again, the problems that exist with the National Flood Insurance Program. In December, floods throughout the Midwest and Southwest caused several millions of dollars in property damage, as well as claiming more than 40 lives. The damage caused by these disasters has added to the financial strain that the National Flood Insurance Program is facing. The federal program is currently $23 billion in debt, with lawmakers failing to resolve…

California homeowners are purchasing flood insurance aggressively

January 14, 2016January 13, 2016 Nordstrom

Worries over El Nino lead to an increase in the acquisition of flood insurance coverage Homeowners in California are beginning to show worry over the coming of El Nino. This year, El Nino is expected to be much stronger than it has ever been, which may place many homeowners in serious danger of having their properties damaged. Much of this damage is likely to come from flooding, which has lead more homeowners to purchase flood insurance coverage. According to the Federal Emergency Management Agency (FEMA), there has been an influx…