Data on the National Flood Insurance Program’s (NFIP) traditional reinsurance placement for 2023 reveals a 36% decline in the number of participants in the program when compared with the prior year.
Tag: FEMA
FEMA Shrinks NFIP Reinsurance Program by Over 50% Amid Hard Market
FEMA has completed its 2023 traditional reinsurance placement for the National Flood Insurance Program (NFIP).
FEMA Rule Imperils Florida Rebuilding after Ian Flooding
Thousands of homeowners in Southwest Florida whose homes were flooded by Hurricane Ian face a bureaucratic maze that may force them to demolish their homes and rebuild at higher elevations.
FEMA Support for Hurricane Ian Recovery at $1.27 Billion So Far
More than $1.27 billion in federal grants, disaster loans, and flood insurance payments have been made to the state of Florida and individuals to assist survivors in resuming their lives following Hurricane Ian. For emergency response, FEMA has provided $595 million to households and $322 million to the state, while the US Small Business Administration… Continue reading FEMA Support for Hurricane Ian Recovery at $1.27 Billion So Far
Climate Change Has Increased Likelihood of a Megaflood in California
As California battles wildfires and severe drought, the threat of flooding may appear to be an unlikely cause for concern. A new study, however, warns that the state could be hit by a “megaflood” in the not-too-distant future, potentially putting millions at risk across the state. The study, published in Sciences Advances on Friday, discovered… Continue reading Climate Change Has Increased Likelihood of a Megaflood in California
More than $1 Million in Assistance Has Been Disbursed Due to June Flooding: FEMA
The Federal Emergency Management Administration (FEMA) announced that more than $1.2 million has been disbursed to people affected by June flooding. The federal agency announced in a release that as of July 18, more than $1.15 million has been released for the Housing Assistance program, and more than $62,000 from the Other Needs Assistance program.… Continue reading More than $1 Million in Assistance Has Been Disbursed Due to June Flooding: FEMA
FEMA Report: Flood Insurance Hikes Will Drive 1M from Market
When pressed by members of Congress, the Federal Emergency Management Agency (FEMA) stated that its new update to the nation’s flood insurance program will encourage more people to sign up for coverage, despite the fact that many will pay more for it. However, according to a FEMA report obtained by The Associated Press under the… Continue reading FEMA Report: Flood Insurance Hikes Will Drive 1M from Market
Estimated 115 Homes in Montana Destroyed or Severely Damaged in Flooding
The state of Montana has requested assistance from the Federal Emergency Management Agency for individuals who have suffered significant losses as a result of the flooding that has devastated parts of south-central Montana. The request, signed by Gov. Greg Gianforte on Wednesday, seeks to activate FEMA’s Individual Assistance Program, which is part of the Biden… Continue reading Estimated 115 Homes in Montana Destroyed or Severely Damaged in Flooding
FEMA Urges Congress to Stop Writing Flood Insurance for Highest-Risk Areas
The Senate Banking Committee will examine the federal government’s flood insurance program as officials seek congressional approval to do something unprecedented: drop coverage for frequently flooding properties and deny coverage for homes in the most flood-prone areas. The proposal is part of the Federal Emergency Management Agency’s plan to overhaul the National Flood Insurance Program,… Continue reading FEMA Urges Congress to Stop Writing Flood Insurance for Highest-Risk Areas
FEMA to Launch Initiative to Modernize Building Codes in Cat-Resiliency Effort
On this first day of the Atlantic hurricane season, federal officials are launching a new initiative to modernize building codes so that communities can be more resilient to hurricanes, flooding, wildfires, and other extreme weather events that are intensifying due to climate change. Deanne Criswell, the administrator for the Federal Emergency Management Agency (FEMA), and… Continue reading FEMA to Launch Initiative to Modernize Building Codes in Cat-Resiliency Effort