Live Insurance News

Flood insurance tips for Texas homeowners

July 28, 2012July 28, 2012 Julie Campbell

Benefiting from the coverage starts with purchasing it in the first place. The season for flooding has arrived, and homeowners in Texas are looking into flood insurance as they balance the dry summer of 2011 with the downpours of this year. Insurers are stressing the importance of preparedness and the right types of coverage. Homeowners in the state are being advised to take the time to understand the risks associated with flooding, and to discover tips that can help them to prepare if their homes should ever be threatened by…

Flood insurance policies immediately available to some wildfire victims

July 14, 2012July 14, 2012 Marc

FEMA has stated that Colorado residents affected by the fires may qualify for NFIP. The Federal Emergency Management Agency (FEMA) has announced that the Colorado residents who have been impacted by the High Park and Waldo Canyon wildfire flooding may become eligible for immediate flood insurance coverage through an exception to the 30 day waiting period that is usually required. FEMA said that it made this decision following a U.S. Forest Service consultation. Last Friday, President Barack Obama signed the Biggert-Waters Flood Insurance Reform Act of 2012 into law. This…

National Flood Insurance Program reauthorization by White House to benefit home builders

July 13, 2012April 30, 2013

Construction workers see a solid employment future with the signing of the bill. The National Flood Insurance Program’s (NFIP) signing by the White House has brought only good news to the National Association of Home Builders (NAHB) and its members, as they depend on that program for their jobs. The reauthorization of the program over the next five years and keep construction workers employed. The bill was signed with strong support from both Barbra Boxer, the Democratic leader, and Oklahoma Republican James Inhofe. According to President Obama, “This bill will…

Flood insurance mandate defeated in Illinois

July 10, 2012July 9, 2012 Julie Campbell

Congressional delegation members in the state bring the measure to a halt. Illinois congressional delegation members have announced that a flood insurance mandate for homeowners residing behind what they feel are healthy barriers against flooding, has been defeated. The proposal had initially been an element of the reauthorization bill for the National Flood Insurance Program. However, according to federal lawmakers, the mandate for the coverage was buried within the Illinois bill without much warning. U.S. Senator Dick Durbin has announced that this provision has now been successfully removed by the…

The National Flood Insurance Program will live to see another day

July 3, 2012April 30, 2013

Congress votes to keep the NFIP, which provides 5.6 million people with coverage On Friday, Congress gave its approval to extend the National Flood Insurance Program by another 5 years, ensuring that 5.6 million people will be able to maintain their current coverage. The decision was made to help to keep the fragile housing market from additional harm. If Congress had chosen not to renew the program, the result could have been devastating to the housing market, as prospective homeowners in areas considered at risk of flooding would not be…