Live Insurance News

Flood insurance payouts headed to some Sandy victims

November 3, 2015November 1, 2015 H. Cutner

Homeowners flood Insurance hurricane sandy damage

People who showed that they were not adequately compensate after the super-storm are receiving some validation. Following the flood insurance claims from Superstorm Sandy, thousands of homeowners complained that they were not receiving adequate compensation from the federal coverage program, but that is about to change. The National Flood Insurance Program (NFIP) will be issuing payments to many of those property owners. It is now three years after the storm slammed its way across the eastern seaboard and the flood insurance review that was launched in the spring by the…

Californians should purchase flood insurance, says FEMA

October 27, 2015October 25, 2015 H. Cutner

The Federal Emergency Management Agency says residents of the state need the coverage ahead of El Nino this winter. Officials from FEMA have been urging residents of California to buy flood insurance to cover their homes against damage from rising waters that are very likely in some areas this winter as it is predicted that there will be a strong El Nino. FEMA is advising Californians to purchase these policies regardless of whether they are in the highest risk areas. In fact, the recommendation for purchasing flood insurance has been…

Flood insurance returns to the limelight in the US

October 12, 2015October 11, 2015 S.Vagus

Storms draw more attention to flood protection Recent storms in the United States have, again, brought flood insurance into the limelight. In South Carolina, many homeowners and businesses are reeling from the impact of Hurricane Joaquin, which has lead to loss of life and major property damage in the state. Almost three years ago, Hurricane Sandy hit the country as well, causing major damage in New York and New Jersey and becoming one of the most disastrous natural catastrophes that the country had ever seen. Both of these powerful storms…

Natural disasters have affected about 1 in 3 American small businesses

October 1, 2015September 30, 2015 Julie Campbell

Natural Disaster damage insurance trends

A new app has been developed by Allstate in order to help these companies to prepare for such events. Regardless of how much entrepreneurs would like to deny the truth of the matter, natural disasters do happen, and about one third of U.S. companies are affected by them at some point in their existence. These can come in the form of severe rainstorms, snowstorms, earthquakes, wind, flooding and other catastrophes. When these natural disasters strike, insurance claims are much easier to make when certain basic steps have been taken in…

National Flood Insurance Program continues to struggle in the US

August 20, 2015August 19, 2015 Logan B.

Federal program is still trying to resolve claims that it received 10 years ago The U.S. National Flood Insurance Program is still struggling to recover from 10 year-old claims that have yet to be resolved. Despite efforts to assist the program in its recovery, the program continues to have trouble when it comes to providing consumers with flood insurance protection and handling claims in an appropriate fashion. Many of the program’s financial issues can be traced back to Hurricane Katrina, which had a major financial impact on the U.S. as…

Agents see surge in interest regarding flood insurance

June 29, 2015June 27, 2015 S.Vagus

Consumers are becoming more interested in flood protection Agents are making note of a surge in flood insurance sales as homeowners seek protection from disastrous events. Recent storms have caused floods in several parts of the country, and many people affected by these disasters have learned that their homeowners insurance policies do not offer the protection they need. Most typical homeowners policies do not offer flood protection, which can only be found through the National Flood Insurance Program, managed by the Federal Emergency Management Agency. Homeowners may be too slow…

Commissioner Donelon seeks extension on deadline for flood insurance claims

June 24, 2015June 23, 2015 S.Vagus

Commissioner petitions FEMA to extend insurance claims filing period Louisiana Insurance Commissioner Jim Donelon is petitioning the Federal Emergency Management Agency (FEMA) to extend the deadline for homeowners to submit flood insurance claims. The vast majority of homeowners in the state receive their flood protection from the National Flood Insurance Program and per the provisions of the program these people are required to submit proof of loss forms within 60 days after a flood. This may be a problem for homeowners, however, as many have reported needing more time to…