Tag: national flood insurance program

Hurricane Sandy may cause $20 billion in losses

S.Vagus
New York grocery store sold old of water due to Hurricane Sandy

Hurricane Sandy makes landfall, causing chaos Hurricane Sandy is causing havoc in the northeastern U.S. The storm finally made landfall on Monday, striking New Jersey with 115mph winds that pushed water from the ocean into several states along the East Coast, including Virginia, New York, and Maryland. Though the storm is classified as a Category 1, it has already managed to caused a significant amount of damage with just its powerful winds. When the flooding that the storm has caused is factored into its overall impact, Hurricane Sandy could be…

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Hurricane Sandy slams East Coast

S.Vagus
Hurricane Sandy Insurance News

Hurricane Sandy makes landfall and insurers scramble to mitigate impact Hurricane Sandy has hit  the East Coast of the U.S. after building in strength throughout the majority of the past week. U.S. Insurers have been working to prepare for the hurricane, which is expected to cause a significant amount of damage as it passes through densely populated cities in the northeastern region of the country. Claims teams and insurance adjusters have been mobilized to areas that are expected to see the most damage ahead of the storm in an attempt…

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North Dakota consumers win with flood insurance legislation

S.Vagus
Missouri Flood Insurance

New legislation makes changes to North Dakota flood insurance policies Legislation has been passed in North Dakota that changes the effective date of flood insurance policies throughout the state. Last year, many homeowners purchased or upgraded flood insurance policies in the wake of flooding in the Missouri River. Those purchasing policies after the disaster struck had feared that their newly bought coverage would not cover the damage that had been done to their homes and properties. Thanks to new legislation, their policies may now actually provide them with the coverage…

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MEMA releases flood insurance information for consumers

New York Homeowners Insurance Rules

MEMA information could help consumers understand their policies and file claims The Mississippi Emergency Management Agency (MEMA) has released information that aims to help the victims of flood file flood insurance claims. Mississippi residents that have flood insurance receive their coverage through the National Flood Insurance Program (NFIP). The majority of the state’s homeowners, however, do not have coverage that protects them from the damage caused by floods. Yet, many of these homeowners believe they are adequately protected by the coverage they receive through the state’s wind pool policies. MEMA…

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Flood insurance still hasn’t been purchased by some homeowners

Julie Campbell
Flood Insurance

As hurricane season enters its peak period, warnings have been issued to those individuals. The most active part of the Atlantic hurricane season is now underway and homeowners who have not yet purchased flood insurance are being cautioned to do so as soon as possible. They are being warned that homeowners insurance may not cover the flooding from the storms. With a flood insurance policy, the property is covered against storm surges in addition to the torrential rains which can cause significant flooding. The Insurance Information Institute has explained that…

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