Live Insurance News

Flood insurance rates to spike this year

May 13, 2013May 25, 2013 Logan B.

Flood homeowners Insurance Rates raising homes

Flood insurance rates are set to rise throughout the US Flood insurance throughout the U.S. is expected to become costlier as legislation passed last year concerning the National Flood Insurance Program comes to fruition. The legislation was designed to address the several, severe financial problems that the flood insurance program has faced over the past several years. The program first began experiencing these troubles in the wake of Hurricane Katrina. The storm dealt such a powerful blow that the federal program has not yet recovered. Ensuing years of floods throughout…

Flood insurance could become too expensive for South Mississippi residents

May 7, 2013May 6, 2013 H. Cutner

Some in the area could find that the premiums are simply too high to be able to afford it. According to Coast officials in Mississippi, the increases to the flood insurance rates could lead to financial disaster for some residents living in areas that are at a higher risk of flooding. Many are worried that the impact of this change will be a considerable one, and won’t just affect one or two. According to the planning director of Jackson County, Michele Coats, “I think it’s going to be huge.” Coats…

This week in Insurance News Headlines

April 11, 2013 S.Vagus

Live Insurance News Video – This week in the headlines… Stories we covered in today’s headlines along with notes and highlights… Title: Consumer satisfaction in homeowners insurance sector continues to climb Insurance agents will be happy to hear that the latest report in from J.D. Powers makes note of consumers satisfaction is higher than ever when a claim is reported to the agent first opposed to them being redirected to the insurance company. The study shows that consumer satisfaction is climbing despite the problems that recent natural disasters have…

FEMA prepares consumers for higher flood insurance rates

April 5, 2013April 9, 2013 Logan B.

FEMA working to raise flood insurance rates Despite the controversy surrounding this particular issue, the Federal Emergency Management Agency continued work to prepare customers of the National Flood Insurance Program for higher premiums in the near future. The agency has been making revisions to the flood maps that are used to categorize properties and designate regions of the U.S. that are prone to catastrophic flooding. In some states, lawmakers have been able to convince the agency to back down from making aggressive revisions to its flood maps, thereby introducing only…

Flood insurance in New Orleans expected to rise

March 25, 2013October 3, 2019 S.Vagus

FEMA maps could make flood insurance more expensive in New Orleans The U.S. Federal Emergency Management Agency (FEMA) has been making revisions to its national flood maps over the past several months. The agency notes that making changes to its existing flood maps is necessary due to environmental concerns and how changes in climate are affecting portions of the U.S. In some parts of the country, rising sea levels are exposing citizens to risks associated with floods. Powerful storms have also been causing widespread flooding, as was the case with…