Tag: flood insurance claims

Flood insurance claims will reach $4 billion in Germany

H. Cutner
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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Flood insurance payouts trickle into New Jersey

Logan B.
flood insurance rates

FEMA reports more flood insurance payout came to New Jersey over past week The Federal Emergency Management Agency (FEMA) has announced that more than $200 million in flood insurance payments have been issued to New Jersey over the past week. The payments were disbursed through the National Flood Insurance Program, through which most U.S. homeowners receive their flood insurance coverage. The recent payments bring Hurricane Sandy’s insurance payout total to $2.7 billion. Federal officials note that more payments are on the way as claims continue to be processed through the…

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Flood insurance program takes a scolding from New Jersey governor

new jersey flood insurance

He stated that claims to the federal program were being paid far too slowly to NJ residents. Governor Chris Christie has spoken out against the federal flood insurance program’s handling of the claims made by New Jersey residents following the Superstorm Sandy’s devastation of many of its areas at the end of October 2012. He said that the claims that were made to the federal program were not being paid in a reasonable time. Though the governor had previously criticized the rate at which the flood insurance payments were being…

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Flood insurance claims hitting speed bumps in New Jersey

S.Vagus
Flood Insurance

FEMA data highlights delays in flood insurance claims The Federal Emergency Management Agency (FEMA) has begun releasing information concerning the rate at which flood insurance claims produced by Hurricane Sandy are being finalized. Since Hurricane Sandy struck the East Coast U.S. in late October 2012, flood insurance claims have been a problem for victims of the storm. The natural disaster caused widespread flooding that ruined many properties throughout the northeast, with much of the damage being localized in New Jersey. Selective Insurance highlighted by FEMA data According to FEMA, Selective…

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Flood insurance approval for $9.7 billion in claims from U.S. Congress

Flood Insurance

The final congressional nod was achieved when the Senate passed the bill on Friday. The new United States Senate has now passed a bill for $9.7 billion which has brought about the final approval of Congress to assist in the payment of flood insurance claims for businesses, homeowners, and renters whose properties were damaged by Superstorm Sandy when it hit at the end of October 2012. This has replenished the funds for NFIP, which were reaching urgently low levels. The National Flood Insurance Program (NFIP) was predicted to run dry…

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