The federal government is being sued by a coalition of states seeking to block a change in the calculation of flood insurance rates, which they say will make such insurance expensive for citizens. The Federal Emergency Management Agency (FEMA) insists that its new insurance premium system, “Risk Rating 2.0,” is an improvement over past methods…
10 States File Lawsuit Against Federal Government for Flood Insurance Rate Hikes
June 2, 2023
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No Disaster Aid for Homeowners Who Don’t Buy Flood Insurance, Suggests Feds Report
A federal government report suggests that homeowners who experience flooding but had declined to buy flood insurance should not receive aid from its program established to help the provinces and territories (PTs) respond to large-scale natural disasters. “Some PTs are moving toward refusing claims when someone is uninsured but flood insurance is available,” said the…
Hurricane Ian Blows More Ill Winds Towards Florida’s Distressed Property Insurance Market
September 28, 2022
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Citizens Property Insurance Corpflood insuranceFloridaHurricane IanNational Flood Insurance Programproperty insuranceRegional NewsRegional-Local NewsUSUS News
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Florida’s property insurance market was distressed before Hurricane Ian appeared on the radar with the state’s 6.2 million homeowners paying at least three times more than those elsewhere in the United States spend on coverage, according to the Insurance Information Institute. After the massive, slow-moving storm punches its way through the state, analysts fear property…
Had Flood Damage? How to File a Flood Insurance Claim
August 15, 2022
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BrightEPAEstateFEMAflood insuranceinsuranceNational Flood Insurance Programpersonal financeWealth Management
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Most everyone has heard of the flooding that recently took place in Kentucky. It occurred suddenly, offering no time to pack and move out in advance. Many people lost everything. If those floods happened in your area, would flood insurance cover your losses? Floods are the costliest natural disasters in America, states FEMA (Federal Emergency Management Agency)….
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