Live Insurance News

UK flood insurance leads to confrontation with Prime Minister

January 1, 2014December 30, 2013 H. Cutner

UK cyber Insurance industry News united kingdom

David Cameron was confronted by a woman who accused him of a “betrayal” regarding the delay in the coverage program. United Kingdom Prime Minister David Cameron visited Yalding, Kent, only to be confronted by a woman named Ericka Olivares, who accused him and the Government of betraying the flooding victims through the delays in the UK flood insurance program when he had promised that premiums would be kept down. Olivares urged Cameron to push a deal forward that would make this coverage affordable. She pressured him to bring a deal…

Louisiana flood insurance hurts the state’s rank in “best-run states”

December 6, 2013December 3, 2013 G. Turner

However, a recent bill to delay the increases to the rates for this coverage could help. A recent survey conducted by a online website for financial news has taken the Louisiana flood insurance rate struggles into account among other issues faced by the state, and has slapped it with a ranking of a lousy 44th place when determining the “best-run states”. The site that ran the survey did admit that when it came to rating, it was “difficult to objectively assess”. At the same time, that website also said that…

Flood insurance prices may ease for Tampa Bay homeowners

November 27, 2013November 25, 2013 H. Cutner

Residents of the area had been expected to pay up to ten times more for coverage, but this may not be the case. Homeowners living in the Tampa Bay area who were feeling increasing concern about flood insurance prices that could soon be skyrocketing may now be breathing a great deal easier with the chance that relief may be on its way. Over the last few months, the cost of this type of coverage was sent skyward in the region. Homeowners found themselves facing flood insurance bills that they couldn’t…

Flood insurance rates spike in California

November 21, 2013November 19, 2013 S.Vagus

California homeowners may soon contend with higher flood insurance premiums A sudden increase of flood insurance rates in the U.S. may soon force people from their homes. Rising flood insurance costs have become quite common in states like Florida and Louisiana, both of which experience a high degree of exposure to natural disasters. Homeowners in the San Francisco Bay Area may be feeling a great deal of financial pressure from the latest hike in flood insurance rates, however. For many, this coverage may soon become too costly to manage. Rates…

Flood insurance costs could be stifled by new legislation

November 1, 2013October 29, 2013 S.Vagus

Relief for rising flood insurance rates could come from Louisiana Homeowners in Louisiana may find some relief from rising flood insurance rates thanks to new legislation that has been introduced to the state. This legislation seeks to reform flood insurance in Louisiana, putting an end to the increasingly costly problem that this type of coverage has caused homeowners and businesses alike for several years. Rising rates are putting homeowners under inordinate financial strain and stifling the growth of the housing market. Federal program continues to grapple with financial problems State…

Flood insurance to be offered by Florida private insurers

October 31, 2013October 28, 2013 H. Cutner

Two providers in the state have decided to work to offer cheaper alternatives to residents. There are two private flood insurance companies that have appeared to offer residents of Florida some alternatives to the skyrocketing rates under the federal program that is currently the primary option in the state. These two insurers are hoping to be able to offer the coverage for less money than residents would otherwise pay. The rates that are currently offered under the National Flood Insurance Program (NFIP) are rising higher and two insurers – the…

Flood insurance premiums spike has strangled home values

October 29, 2013October 26, 2013 H. Cutner

The cost of the coverage has skyrocketed upward by seven times and is holding real estate hostage. Following the rewriting by U.S. Congress of the federal flood insurance program, the monthly premiums that are paid by over 1 million homeowners in the United States are now slated to rise considerably. The result of this increase in cost for covering the homes has had a large impact on the real estate market. Due to the higher cost of flood insurance coverage in certain large areas, which has meant that the price…