Importance of flood insurance highlighted in Colorado

Flood Insurance

Colorado disaster draws attention to flood insurance The importance of flood insurance coverage has again been exemplified in Colorado. The state has fallen victim to heavy rainfall, which has sparked floods in many densely populated communities. Record-breaking rainfall and the steep mountains found throughout the state created a major flooding disaster for residents of Larimer and Boulder counties. Thousands of homeowners were evacuated from some communities, returning to find that their properties were uninhabitable. Moreover, many of these homeowners found that their homes were not protected because of their lack…

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Flood insurance policies immediately available to some wildfire victims

Flood Insurance and reinsurance

FEMA has stated that Colorado residents affected by the fires may qualify for NFIP. The Federal Emergency Management Agency (FEMA) has announced that the Colorado residents who have been impacted by the High Park and Waldo Canyon wildfire flooding may become eligible for immediate flood insurance coverage through an exception to the 30 day waiting period that is usually required. FEMA said that it made this decision following a U.S. Forest Service consultation. Last Friday, President Barack Obama signed the Biggert-Waters Flood Insurance Reform Act of 2012 into law.  This…

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