Flood insurance program in UK is potentially inadequate

UK Flood homeowners insurance program

According to a recent study, the new plans from the government underestimate the risk and its associated cost. Researchers have been analyzing the data from the newly created flood insurance program from the government of the United Kingdom and are predicting that it will fall short because it has underestimated the number of properties that are at risk of rising waters as a result of climate change. The study proposes that climate change will vastly increase the number of properties at risk of flooding. The research was conducted by a…

Read More

Flood insurance rates to spike in New York and New Jersey

national Flood Insurance program tips

Flood insurance rates expected to rise in wake of Hurricane Sandy More than six months have passed since Hurricane Sandy barreled into New York and New Jersey. The two states suffered horrendous damage from the storm, but not from its strong winds. Floods caused the majority of the damage associated with Hurricane Sandy, which has proven to be a problematic issue for the victims of the powerful storm, especially those without flood insurance protection. The uninsured and the uninformed suffered serious losses due to the storm, with most believing their…

Read More

National Flood Insurance Program in danger of running out of money

Flood Insurance

National Flood Insurance Program will be out of funds by next week There may be bad news on the horizon for the National Flood Insurance Program. The Federal Emergency Management Agency (FEMA) has announced that the federal flood insurance program will be completely out of money next week. Hurricane Sandy, which struck the East Coast in late October 2012, dealt a powerful blow to the National Flood Insurance Program. The powerful storm compounded the financial problems that the program has been dealing with for several years. FEMA officials push for…

Read More