Recent storms in the south have left the Mississippi River engorged, raising concerns of imminent flooding. Floods have already occurred in Missouri after the Birds Point levee succumbed to the churning waters of the river. As the river continues to swell, the U.S. Army Corps of Engineers has begun taking measures to intentionally breach additional levees in an attempt to control flooding. The action has brought up concerns, particularly among the state’s farmers, about whether insurance companies will pay for damages caused by these man-made floods. The Army’s idea has…
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National Flood Insurance Program on financial shaky ground
On Wednesday, a subcommittee of the House of Representatives approved amendments that could help revitalize the stagnant National Flood Insurance Program. The program is currently in a state of bankruptcy, having been unable to procure any additional funding from the government. It will continue to operate until September 30, when funding will run out completely. The legislation, which was passed by a voice vote, seeks to revamp the program to make it more financially sound and provide federal agencies such as FEMA more flexibility in their operations. “In the near…
Read MoreMajor flood risk areas in U.S.
U.S. and state officials from the Midwest are making preparations for possible floods that might happen during the spring along identified areas particularly those that are near the Red Rive and Mississippi River. These are the areas that are of the greatest risks for encountering the floods. The areas that are affected during the floods are among the top crop producers of the country. The states of Illinois and Iowa are leading exporters of corn and soybeans, while Minnesota and North Dakota are top producers of spring wheat and durum.…
Read MoreFlood map errors costing consumers thousands!
The Federal Emergency Management Agency, also known as FEMA, is in charge of mapping out areas for high risk flood zones, but are some of these maps wrong? Banks require flood insurance on homes in these flood zones and many are paying steep prices for what could be old information or even human error! These maps are used to determine insurance rates and with the wrong information premiums can go (on average) from $300 a year to $3500, depending on your area and loan requirements. With no warning you have…
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