Live Insurance News

West Virginia legislators decry rising flood insurance rates

January 2, 2014December 30, 2013 Logan B.

State lawmakers to confront Congress regarding rising premiums Lawmakers in West Virginia are beginning to express their concerns regarding rising flood insurance rates. The state’s House of Delegates plans to urge Congress to address the issue in the coming year, but whether federal lawmakers will seek to mitigate the pressure of higher insurance premiums is an uncertain matter. West Virginia lawmakers suggest that homeowners and businesses alike are suffering under the financial pressure associated with higher insurance premiums and this pressure is only expected to grow as premiums continue to…

Flood insurance House vote won’t happen in 2013

December 17, 2013December 14, 2013 G. Turner

This will hold off the ability for the chance to delay increases, an effort put forward by several states. The most recent efforts that were being made in order to hold off considerable flood insurance rate increases in some areas were spoiled, recently, when the House bill previously submitted by Rep. Bill Cassidy (R-Baton Rouge) was withdrawn by the representative, who said that no further action would be taken on the matter before 2014. This most recent action could make it much more challenging for other efforts that had a…

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 rates battle now includes another state

December 3, 2013November 30, 2013 H. Cutner

Mississippi has been trying to combat the federal plans to boost the price of coverage. The intentions to increase federal flood insurance rates is currently being challenged by Mississippi, and that state is far from being alone as Louisiana, its neighbor, has now joined the others in this legal action to try to keep the cost at an affordable level. The original lawsuit was filed by Mississippi in an attempt to stop increases at the start of October. The National Flood Insurance Program (NFIP) had announced that premiums for most…

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…