Live Insurance News

New Jersey residents pick up more flood insurance in wake of powerful storms

August 29, 2012August 29, 2012 S.Vagus

Flood insurance gets a boost after Irene With Hurricane Isaac on a rampage, attention is being drawn to flood insurance. In the past two years, damage caused by powerful storms has been punctuated by the sheer lack of flood insurance coverage. For the uninsured, the damage caused by flood presents a financial burden that consumers will have to bear alone. Those that have suffered loss as a result of flooding seem to be taking the matter seriously and are finally heeding the call to obtain comprehensive flood insurance coverage, according…

Louisiana consumers encouraged to examine their flood insurance policies

August 9, 2012August 8, 2012 S.Vagus

Commissioner Donelon advises consumers to make sure they are protected by their insurance policies Tropical Storm Ernesto has formed in the Gulf of Mexico and is expected to cause some damage in Belize and Mexico. Though U.S. states are not expected to see any significant impact from the storm, Louisiana’s Insurance Commissioner, Jim Donelon, is taking the opportunity to encourage consumers to make sure they insurance policies are capable of protecting them. Commissioner Donelon notes that because Ernesto is not expected to hit Louisiana that it is unlikely for future…

Flood insurance law to be combined with Highway Bill

June 30, 2012June 30, 2012 Nordstrom

Legislators seek to extend the life of NFIP by combining laws The U.S. House and Senate are currently working to finalize an agreement that would combine a number of legislations under the proposed Highway Bill. The bill was introduced as a way to solve some of the problems with the country’s transportation infrastructure – namely the country’s roadways. The bill has, for some time, been a point of contention amongst politicians for various reasons. Now, legislators are working to make the bill more attractive universally by combining legislation that would…

SmarterSafer.org Statement Praises Congress for Passing Five-Year Extension of National Flood Insurance Reform

June 30, 2012 Guest Author

WASHINGTON ‒ SmarterSafer.org today released a statement praising Congress for passing a five-year extension of the National Flood Insurance Program (NFIP) that includes reform of the NFIP. “Congress passing the extension of the National Flood Insurance Program for five years is a momentous step towards better protecting our communities, environment and taxpayers. Reforms in the bill will guard lives and property, help ensure flood maps are accurate, phase out expensive subsidies, and allow the program to access private sources of financing – putting the NFIP on sounder financial footing while…

Flood insurance premiums to spike for homeowners due to new legislation

June 27, 2012June 27, 2012 S.Vagus

Senate debating legislation that would raise flood insurance rates through NFIP Those living in areas of the U.S. that are prone to floods may soon see a spike in their insurance premiums due to a new legislation currently being debated in the U.S. Senate. The legislations concerns the beleaguered National Flood Insurance Program (NFIP). For years, the program has been a source of affordable insurance coverage for homeowners in risk-prone areas of the country. This affordability has come at a cost for the program itself, however, which has taken the…