Tag: flood insurance research

Flood insurance continues to baffle a fifth of all homeowners

Julie Campbell
Flood Insurance

A recent survey has shown that many property owners are not aware of what coverage they do or do not have. According to the results of a recent survey of homeowners, one fifth of the participants did not clearly understand what flood insurance coverage they had, and whether or not they needed to purchase an additional policy. The survey showed that nearly twenty percent of homeowners are unaware that they are uninsured. The study was conducted by Princeton Survey Research Associates International, in combination with Bankrate.com. What it determined was…

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Flood insurance in need of modernization in the US

Dan
Flood Insurance Report

Report highlights the need to modernize flood insurance The U.S. National Flood Insurance Program is archaic, according to a new report from the National Research Council of the National Academy of Sciences. The report suggests that the flood insurance program is in dire need of modernization and could benefit from better risk management practices in the future. Researchers indicate that how the program manages risks associated with properties behind flood levees is one example of how outdated the program actually is. NFIP risk management seen as outdated In improving its…

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