With lush parks, solid schools nearby and its proximity to Houston, the Cinco Ranch planned community seemed the perfect place for Elisio and Ana Soares to buy a house after moving to the U.S. from Brazil. But only after Hurricane Harvey swamped their dream home in August 2017 with 7 inches of water did the… Continue reading Homeowners Fault Government for Hurricane Harvey Damage
Tag: flood insurance
AmWINS and The Flood Insurance Agency Launch New Commercial Property Flood Product
AmWINS Group, Inc. (“AmWINS”), a global distributor of specialty insurance products and services, in conjunction with its recent acquisition of The Flood Insurance Agency (“TFIA”), has launched FloodFLEX, a new commercial property flood product designed to eliminate out-of-pocket expenses not covered by traditional flood insurance. FloodFLEX is an innovative endorsement that increases the loss payable… Continue reading AmWINS and The Flood Insurance Agency Launch New Commercial Property Flood Product
New Risk Rating System Will ‘Close Insurance Gap,’ FEMA Says
By redesigning the National Flood Insurance Program’s (NFIP) risk rating system, FEMA says it’s focused on building a culture of preparedness by “closing the insurance gap.” A new approach to modernizing rates, Risk Rating 2.0, that is more aligned with actual risk is scheduled to go into effect next year when the new rate structure… Continue reading New Risk Rating System Will ‘Close Insurance Gap,’ FEMA Says
Flooding Woes Add to Trade War Stress in Farm Belt
Nebraska grain farmer Ryan Ueberrhein was barely breaking even after the U.S.-China trade war pushed prices for his soybean crop to a decade low. Then the nearby Elkhorn River burst its banks as flooding swept across the U.S. farm belt. Uberrhein’s farm was left covered in debris after the roiling water receded. He has mounting… Continue reading Flooding Woes Add to Trade War Stress in Farm Belt
Record Flood Threat Hangs Over Most of the U.S. through Spring
The deluge that devastated so much of the Midwest over the last week could be a preview for one of the worst years for flooding in the U.S., according to federal weather officials. Now flooding is occurring at St. Joseph, Missouri, with waters there forecast to crest more than two feet (0.6 meters) above major… Continue reading Record Flood Threat Hangs Over Most of the U.S. through Spring
Study Finds Almost Half of U.S. Residents Don’t Have a Home Inventory List Should Disaster Strike
New survey data released today as part of the Farmers Insurance® Seasonal Smarts Digest shows nearly half of U.S. residents (44%) have never made a home inventory list, possibly putting themselves at risk of potential stress in the event of a major loss. This risk takes on greater significance considering that 70 percent of Americans… Continue reading Study Finds Almost Half of U.S. Residents Don’t Have a Home Inventory List Should Disaster Strike
Flooding Hits Nebraska and Iowa’s Agriculture Industries
Nebraska’s agricultural sector could be facing nearly a billion dollars in damage and losses after a blizzard and record flooding across the Midwest, according to early estimates from state and industry officials. “It’s a big hit to the entire state,” said Steve Wellman, director of the Nebraska Department of Agriculture. Agriculture accounts for 20% of… Continue reading Flooding Hits Nebraska and Iowa’s Agriculture Industries
Trump Administration Plans Flood Insurance Overhaul
The Trump administration said Monday it plans to overhaul government-subsidized flood insurance, in a sweeping proposal that could raise rates on more expensive properties and those in higher-risk areas. The new system would affect policies for most homeowners who own property in flood-prone areas, where such coverage is required because few private companies offer flood… Continue reading Trump Administration Plans Flood Insurance Overhaul
Mayor Seeks to Flood-Proof Lower Manhattan
New York Mayor Bill de Blasio proposed a $10 billion plan to push out the lower Manhattan coastline as much as 500 feet, or two city blocks, to protect from flooding that’s expected to become more frequent as global temperatures rise. The project would protect the South Street Seaport and the Financial District, along the… Continue reading Mayor Seeks to Flood-Proof Lower Manhattan
Federal Disaster Assistance Approaches $1B for Hurricane Michael
According to the U.S. Department of Homeland Security’s Federal Emergency Management Agency, five months after the disaster declaration for Hurricane Michael, Floridians have received more than $957 million in federal disaster assistance in the form of grants, loans and insurance payments. As of Mar. 10, federal disaster assistance includes: $137 million in grants awarded to… Continue reading Federal Disaster Assistance Approaches $1B for Hurricane Michael