The nation’s largest flood insurance program has now lapsed, leaving millions of homeowners in limbo. With the National Flood Insurance Program shut down, new policies and renewals are frozen, putting real estate deals in flood-prone areas on hold and leaving families exposed[...]
Tag: Flood Insurance
Curio |
Flood Insurance Is Becoming Unaffordable—Can Community-Based Catastrophe Insurance Help?
When floodwaters rise, they don’t just take homes—they erode the very foundation of community stability. That’s what happened across Appalachia last Valentine’s Day, when a brutal mix of rain, snowmelt, and stripped land led to deadly floods, mass evacuations, and destruction still[...]
News |
Bipartisan Bill Aims to Extend National Flood Insurance Program Before September Deadline
The National Flood Insurance Program is set to expire on September 30, putting over 5 million policyholders at risk of losing access to new or renewed coverage. A bipartisan bill introduced by Rep. Troy Carter would extend the program through 2026, breaking[...]
Commentary |
Why private flood insurance is a positive for FHA-secured mortgages
The risk of required and rising flood insurance premiums offered by the National Flood Insurance Program has been a proverbial gun to Minot’s head over the past several years. And one problem has been the Federal government’s insistence on using the NFIP[...]
News |
Congress Is Likely to Delay Flood Insurance Overhaul, Again
The National Flood Insurance Program is set to expire on May 31st. It’s the latest deadline in a long series of short-term extensions, but the clamor to overhaul the system is growing. Catch up with the full political picture in this article[...]
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News |
National Flood Insurance Program Rate-Setting Should be Overhauled, National Research Council Says
A report by the National Research Council of the National Academy of Sciences recommends recognizing the flood risk reduction provided by non-accredited levees. If adopted, the changes might reduce large rate increases set to take effect in the coming years. Full story[...]
News |
Alberta: 2013 Flooding Inspired Overhaul of Flood Insurance
In Alberta, private insurers have figured out how to provide flood insurance using technology that allows them to assess the risk for each individual property. Get the breakdown on coverage amounts and costs in this article from the Calgary Herald. [...]Read More...[...]
News |
Hoeven Working to Reduce Cost of Flood Insurance
— Official News Release, Senator Hoeven — During a recent Senate hearing, Senator John Hoeven urged Federal Emergency Management Agency (FEMA) Administrator Craig Fugate to help control the cost of flood insurance by working closely with local communities to ensure the agency’s[...]
News |
Federal Flood Insurance Premiums for Homeowners Rise as Much as 25 Percent
Flood insurance premiums are on the rise in an attempt to keep the federal program from sinking deeper into debt. This article from the New York Times has a short Q & A at the end. [...]Read More... from Federal Flood Insurance[...]
News |
Canada: Flood of Flood Insurance on Horizon
As opposed to the U.S.’s federal flood insurance, this is a private company stepping into the game. Flood prone residents near Winnipeg are skeptical they’ll qualify, but it’s an encouraging trend in the world of flood insurance none the less. [...]Read More...[...]
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News |
Flood Insurance Premiums to Change – KXNet.com – Bismarck/Minot/Williston/Dickinson-KXNEWS,ND
Federal Flood Insurance premiums will be on the rise nationally by 15%-18% this year and likely for a few years in the future as well. Bonnie Campo of KX News delivers the details in an interview with a FEMA representative. [...]Read More...[...]
News |
States Begin Taking Action on Flood Insurance
The National Flood Insurance Program is $20 billion in debt, and large premium increases have some states looking to buy up and buy out their highest risk properties rather than continually. The article provides context for why flood insurance premiums are rising.[...]