Live Insurance News

Businesses want a better flood insurance program

May 7, 2015May 5, 2015 Nordstrom

Business leaders call for improvements to the National Flood Insurance Program Business leaders in Louisiana want to see flood insurance rate hikes reined in throughout the region. A coalition of businesses from the construction and real estate industries attended a meeting at the University of New Orleans where they shared their thoughts concerning the National Flood Insurance Program with lawmakers. The federal program offers flood insurance coverage to homeowners and businesses, but the program has been struggling with financial problems for years. As such, rates for policies offered through the…

Flood insurance rates in Florida significantly reduced by Lloyd’s of London

April 22, 2014April 19, 2014 H. Cutner

The massive marketplace is now showing quotes that are notably lower than NFIP. In recent news that is quite different from what Florida is used to hearing, it could be that flood insurance rates are actually falling and becoming more affordable, as private insurers start to make their way into this marketplace. Consumers who have been shocked by the increases by NFIP are finding relief in new quotes. The National Flood insurance Program (NFIP), which is a part of FEMA, is now quoting rates that are significantly higher than what…

Flood insurance rates still rising, regardless of law reforms

March 26, 2014March 24, 2014 G. Turner

Even with the overhaul of the federal program, the prices homeowners will pay will still be higher. Millions of homeowners across the country were breathing a sigh of relief when the flood insurance law was reformed in order to bring down some of the skyrocketing rates for that coverage, but many continue to face much higher premiums than they have seen in previous years. The rising cost of this coverage may not be as high for some homeowners as expected, but it’s still going up. The subsidies through the National…

Flood insurance bill is now a law with Obama’s signature

March 24, 2014March 24, 2014 G. Turner

The President has now signed the long awaited and fought for legislation to help to keep coverage affordable. President Barack Obama officially added his signature to the hard fought legislation, turning the flood insurance bill into a law and making certain that the increases in premiums would not rise by any more than 18 percent per year. This was not legislation that came about easily or without considerable controversy. Senator Mary Landrieu (D – Louisiana), was among the bill’s most vocal and adamant supporters. She received a call early in…

Flood insurance rates may see turmoil throughout the US in coming months

March 12, 2014March 10, 2014 Logan B.

Insurance rates may soon become chaotic due to changing flood maps and new legislation Flood insurance rates are expected to begin fluctuating throughout the U.S. this year. Reforms are taking hold of the National Flood Insurance Program due to new legislation. The provisions of this legislation are delaying significant increases in insurance premiums for the time being, but the Federal Emergency Management Agency (FEMA), which oversees the federal insurance program, continues to make revisions to flood maps that are having a dramatic impact on the cost of insurance protection. Arizona…