Flood insurance claims will reach $4 billion in Germany

Flood Insurance News

The waters of the Danube have now swelled outward to the point that they are headed for Serbia. The latest predictions have suggested that the damage that has occurred due to the rising floodwaters in Germany are likely to bring about flood insurance claims that will reach €3 billion (approximately $4 billion). This, according to a credit rating agency’s forecasts regarding the claims made from the water damage. Though the Elbe river’s levels appear to be stabilizing in the north of Germany, further to the south, the flood insurance issues…

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Disaster in Germany draws attention to flood insurance

Flood insurance enters limelight in Germany Over the past week, Germany has fallen victim to a catastrophic flood that has caused a significant amount of damage in some parts of the country. The flood began at the Danube River, which is the second largest river in Europe, and several other rivers quickly began to overflow. Combined, these rivers contributed to one of the worst flood disasters in Germany’s history and have put a great deal of strain on the flood insurance sector within the country. German floods expected to have…

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Flood insurance risk maps recreated by FEMA for Hampden County

Flood Insurance

This will change the rates that are being paid by residents of the area whose condition has been altered. The federal government has now released the newly redrawn version of the flood insurance maps for Hampden County, Massachusetts, which will be required to be applied by communities on or before July 16 so that their residents will be eligible to take part in the national coverage program. Several properties have been affected by the new map, though the actual number has not yet been released. Communities are required to implement…

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Flood insurance could become too expensive for South Mississippi residents

Flood Insurance

Some in the area could find that the premiums are simply too high to be able to afford it. According to Coast officials in Mississippi, the increases to the flood insurance rates could lead to financial disaster for some residents living in areas that are at a higher risk of flooding. Many are worried that the impact of this change will be a considerable one, and won’t just affect one or two. According to the planning director of Jackson County, Michele Coats, “I think it’s going to be huge.” Coats…

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Flood insurance policies recommended to Florida residents before hurricanes begin

Flood Insurance

Homeowners are urged to purchase their protection ahead of potential flooding problems. Kevin McCarty, the commissioner for Florida, has released an official announcement that is urging homeowners in the state prepare for the upcoming hurricane season through the purchase of flood insurance before the storms start to arrive. The last few years have shown the weather to be fierce and unpredictable, so it is best to be prepared. Flood insurance coverage is available to business owners, homeowners, and renters through the National Flood Insurance Program (NFIP) to communities that are…

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Landlord insurance recommended to help protect investments in the UK

Landlord Insurance

Property owners who are renting out have been advised to make sure they have coverage against floods. Experts in the landlord insurance sector of the industry are reminding the owners of rented properties in the United Kingdom about the importance of protecting their investment, particularly against perils such as flooding, which have become an increasing problem over the last few years. They are reminding these owners that a policy could make the difference between the life and death of their investments. Flooding is already becoming a growing issue in the…

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Flood insurance wrongly applied to many homeowners in Oregon

Auto Insurance discounts

Lenders and FEMA have been charging many property owners who shouldn’t have had to pay. Every year, hundreds of homeowners in Oregon are wrongly informed that they must pay for expensive flood insurance coverage after having mistakenly fallen into an element of the states system that its coordinator feels is lacking in oversight and is in need of repairs. The coordinator of the NFIP in the state said that this has become a problem and changes are needed. The National Flood Insurance Program (NFIP) in the state is, according to…

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