Tag: NFIP

Rising flood insurance premiums spark protests among homeowners

Marc
Flood Insurance - FEMA

Flood insurance rates prove controversial for FEMA Rising flood insurance costs may soon become a problem for the U.S. federal government. The Federal Emergency Management Agency (FEMA) has been working to revise the flood maps that determine what regions of the country can be considered “high risk” areas. According to FEMA, such areas are prone to floods that can cause significant damage to properties and are under considerable risk to falling victim to floods that are caused by storms. Revisions to FEMA’s flood maps have many implications, the most concerning…

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Flood insurance rates may spike in Vermont

Nordstrom
Flood Insurance and reinsurance

Flood insurance could become costlier in Vermont and elsewhere With the Eastern U.S. having been battered by recent storms, flood insurance is at the forefront of many homeowners’ minds. Before the summer is over, the East Coast is likely to experience further storms, though the severity of these potential disasters is impossible to determine currently. While natural disasters may be unpredictable, Vermont officials are preparing for the worst case scenario, and that means warning residents of the potential for rising flood insurance rates. Regulator warns of impending rate increase The…

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Flood insurance may not be the best solution in Ohio

Marc
national Flood Insurance program tips

Ohio lawmakers look for alternative to flood insurance In light of recent flooding disasters, as well as major natural disasters in general, state officials throughout the U.S. are beginning to take measures to mitigate the country’s exposure to these catastrophes in the future. In Ohio, lawmakers are beginning to push more aggressively for federal funding that could help bolster the state’s defenses against floods. State officials claim that flood insurance is simply not enough of a safety net for homeowners that could fall victim to flood disasters. Insurance may not…

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Mayor Bloomberg looks for alternative to flood insurance

Logan B.
Flood Insurance and reinsurance

Flood insurance may not be adequate safety net for New Yorkers New York is no stranger to hurricanes and flooding disasters, but the recent onslaught of Hurricane Sandy has sparked new action when it comes to the matter of flood insurance and protection for state residents. Hurricane Sandy dealt a terrible toll to the state, causing a significant amount of damage from strong winds and, primarily, flooding. Many homeowners throughout the state that were affected by the storm found that their properties were not protected from flood damage due to…

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Flood insurance rates to spike in New York and New Jersey

Logan B.
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…

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