With National Flood Safety Awareness Week kicking off, SmarterSafer.org is urging Congress to pass meaningful flood insurance reform and provide a long-term extension of the National Flood Insurance Program (NFIP). In a letter being sent to Congress today, the group said reform is necessary to protect homeowners and businesses. “March 12-16 has been designated as National Flood Safety Awareness Week, however, the National Flood Insurance Program (NFIP) has yet to be extended and is set to expire at the end of May,” said SmarterSafer.org. “The NFIP must be reformed and…
Read MoreTag: flood insurance sacramento
FEMA clashes with National Wildlife Federation over flood insurance and endangered animals
The Federal Emergency Management Agency (FEMA) has come under fire from the National Wildlife Federation. The federation claims that the agency is granting flood insurance policies to land development projects that could put natural habitats at risk of destruction. The federation claims that FEMA is acting in violation of the Endangered Species Act, which protects these habitats from construction projects. These projects are primarily focused on the Puget Sound region of Washington. Without flood insurance, companies cannot expand into this region of the state because it presents a significant risk…
Read MoreArmy Corps of Engineers warns that last year’s floods could spur yet more damage along the Mississippi River this year
Last year’s record breaking floods along the Mississippi River could put a significant amount of people in danger of similar events this year, according to the Army Corps of Engineers. The events of last year have dealt a significant amount of damage to protective structures that block floods, such as levees and overflow channels. The communities that were affected by these events last year will be notified of the Army Corps of Engineers concerns in February. The Corps has identified several places where floods could be a major problem this…
Read MoreCongress extends the life of NFIP, but no clear solution is yet in sight
Federal legislators rules late last week to extend the lifetime of the National Flood Insurance Program (NFIP) until May 31, 2012. The program had been scheduled to expire at midnight on December 23, which would have caused millions to lose their flood insurance. The Independent Insurance Agents & Brokers of America has praised the extension granted to NFIP, though the program still suffers under the weight of massive debt that threatens its ultimate longevity. For now, the program is safe, but legislators still need to tackle the financial issues that…
Read MoreNational Flood Insurance expiration delayed until January, legislators still slow to act
There seems to be no resolution in sight for the troubles plaguing the National Flood Insurance Program (NFIP). The program, which provides thousands of homeowners with affordable flood insurance coverage, is scheduled to expire on December 18, but legislators have yet to make an attempt to fix what has been called by insurance professionals a broken system. NFIP has stood before Congress for several months now through a series of imminent expirations. Thus far, legislators have done little else beyond voting to extend the program for another month, but that…
Read More