Meteorologists are predicting six major hurricanes to develop in the remainder of the 2019 season, according to a new report released Tuesday by the Colorado State University Tropical Meteorology Project. CSU defined major hurricanes as categories 3, 4 and 5. It expects 13 named storms to develop as well. This falls short of NOAA’s forecast… Continue reading New Report Predicts 6 Major Hurricanes in the 2019 Season
Tag: flood insurance
Financial Services Committee Passes Flood Insurance Reform
The National Flood Insurance Program (NFIP) requires significant reform to better protect the nation from the realities of climate change. Sea level rise and extreme rain storms are making flooding more common, threatening people and property and placing financial strain on the flood insurance program. Today, the House Committee on Financial Services passed a bill… Continue reading Financial Services Committee Passes Flood Insurance Reform
Outdated Flood Maps, Hard-to-find Data Impede Assessment of Flood Risk for Homes
When Heather Gaker found the perfect sage-green beach house in Boynton Beach, Fla., four years ago, she hired multiple inspectors and researched the property’s flood history. Finding no serious history of flooding, she used most of her retirement savings to buy it with cash. Then during a rainstorm in 2017, a half-foot of water filled… Continue reading Outdated Flood Maps, Hard-to-find Data Impede Assessment of Flood Risk for Homes
Even as Floods Worsen, Fewer People Insure Against Disaster
Despite years of devastating flooding and hurricanes, the number of Americans with flood insurance remains well below its level a decade ago, undermining the nation’s ability to cope with disasters just as climate change makes them more frequent and severe. In some of the states hardest-hit by the recent brutal flooding in the Midwest, the… Continue reading Even as Floods Worsen, Fewer People Insure Against Disaster
National Flood Insurance Program Extended through September
The National Flood Insurance Program that millions of people rely on has gotten another temporary extension, as members of Congress renew efforts to work out a long-term proposal. The NFIP extension through the end of September was tucked into a $19 billion disaster aid package the U.S. House approved in a 354-58 vote Monday evening.… Continue reading National Flood Insurance Program Extended through September
Millennials More Likely to Buy Flood Policy than Gen Xers or Baby Boomers
Less than half of Americans who agree that having flood insurance is important have purchased flood insurance, according to a recent national survey from the National Association of Insurance Commissioners (NAIC). This disconnect between intention and action has been brought into sharp relief in the Midwest and South where recovery efforts will continue for years… Continue reading Millennials More Likely to Buy Flood Policy than Gen Xers or Baby Boomers
Senate Passes $19.1 Billion Relief Package for Natural Disasters, Extends Flood Program through September
The Senate passed a $19.1 billion disaster-aid plan Thursday for areas hit by hurricanes, Midwest floods and California wildfires after lawmakers resolved months of disagreement over funds for Puerto Rico. President Donald Trump said he supports the bill. The 85-8 vote sends the bill to the House, which plans to vote as soon as possible,… Continue reading Senate Passes $19.1 Billion Relief Package for Natural Disasters, Extends Flood Program through September
Floods Swamp U.S. Farm Belt
The wettest year on record is raising costs for the nation’s biggest agricultural companies, stalling farmers’ fieldwork and slowing shipments across the U.S. Farm Belt. “It’s got to be the worst ever that we’ve seen,” said Jim Collins, head of Corteva Agriscience, the agricultural division of seed and pesticide maker DowDuPont Inc. Corteva’s sales fell… Continue reading Floods Swamp U.S. Farm Belt
Matt Romano Joins Monarch E&S Insurance Services
Monarch E&S Insurance Services (Monarch), a division of SPG Insurance Solutions, a leading, full service MGA and wholesale broker with underwriting authority for the most highly sought after surplus line markets, announced today that they hired Matt Romano as Vice President to launch their Flood practice. Due to the rapid growth within the private flood… Continue reading Matt Romano Joins Monarch E&S Insurance Services
As Hurricane, Fire Seasons Approach, More People Likely to Be in Harm’s Way
As emergency managers prepare for hurricane and wildfire seasons, they say growing development and higher population in vulnerable areas will likely amplify the damage and devastation. Meteorologists expect more than a dozen named storms in the Atlantic this year, slightly above average. In California, a burst of vegetation from rains could serve as fuel in… Continue reading As Hurricane, Fire Seasons Approach, More People Likely to Be in Harm’s Way