Live Insurance News

Flood insurance premiums may lead to partial law repeal

March 3, 2014March 3, 2014 G. Turner

FEMA’s program regulations will be subject to a vote in the house as early as this week. The 2012 law that reformed the National Flood Insurance Program, which is suffering from an overwhelming amount of debt that has no end in sight, will be facing a vote as early as this week, which could partially repeal the regulations that have been put in to place – and more that would have been on their way. The law was designed to make it so that individuals living in higher risk areas…

US lawmakers may be ready to fix flood insurance

February 19, 2014February 17, 2014 Marc

Federal insurance program continues to struggled beneath massive debt The U.S. Congress may be ready to finally find a solution to the problems that have crippled the National Flood Insurance Program. The program has been the only place that homeowners could find flood protection for several years, but the program itself has struggled under financial strain for nearly as long as it has existed. After being hit by several powerful natural disasters, the insurance program is currently more than $27 billion in debt, which has affected its ability to pay…

Understanding flood insurance in the US

January 26, 2014January 25, 2014 Note From The Editor

Flood protection is a problematic issue Flood insurance has become a strange subject in the U.S. Many homeowners are unaware of flood protection, but for those living in coastal regions of the country this protection is mandatory. Private insurers do not typically offer flood protection because of the costly nature of natural disasters and how often these disasters can cause floods in certain parts of the country. As such, the only place that most homeowners can find flood protection is through the National Flood Insurance Program. Receiving protection from this…

Oregon flood insurance premiums still charged to the wrong homeowners

January 3, 2014December 31, 2013 G. Turner

The challenges that FEMA is facing within the state are clearly on the rise. Hundreds of homeowners throughout the state are finding themselves wrongly being required to pay Oregon flood insurance as they are caught up in the flaws of a system in which lenders automatically include properties located close to flooding zones in with those that are actually located in high risk areas. This means that properties nearby – but outside of – flooding zones, are deemed high risk by lenders. This is problematic for those homeowners as it…

West Virginia legislators decry rising flood insurance rates

January 2, 2014December 30, 2013 Logan B.

State lawmakers to confront Congress regarding rising premiums Lawmakers in West Virginia are beginning to express their concerns regarding rising flood insurance rates. The state’s House of Delegates plans to urge Congress to address the issue in the coming year, but whether federal lawmakers will seek to mitigate the pressure of higher insurance premiums is an uncertain matter. West Virginia lawmakers suggest that homeowners and businesses alike are suffering under the financial pressure associated with higher insurance premiums and this pressure is only expected to grow as premiums continue to…