Home sales in flood-prone areas are booming, as buyers, despite the growing risks of climate change, are increasingly willing to take on the financial and physical challenges of living in flood zones.
Tag: flood insurance
Looming NFIP Expiration Threatens Homebuyers and Insurers
Congress is facing a critical deadline to reauthorize the National Flood Insurance Program (NFIP) by September 30, a move that could have significant implications for the real estate and insurance industries if left unresolved.
Des Moines Leads the Way in Flood Insurance and Prevention
Des Moines is setting a positive example in managing rising flood insurance premiums through proactive flood prevention efforts. The city’s initiatives are helping to mitigate risks and keep insurance costs more manageable.
FEMA Plans Overhaul of Flood Insurance Discount Program
FEMA is set to revamp its Community Rating System (CRS), which offers flood insurance discounts based on community efforts to reduce flood risk.
Few Have Flood Insurance to Help Recover from Devastating Midwest Storms
As the Midwest begins to recover, many won’t have flood insurance, which must be purchased separately from homeowners insurance.
Florida Republican Mayors Form New Group, Wade into Property Insurance Crisis
The Florida Republican Mayors Public Policy Association is endorsing two congressional bills that would provide tax breaks for victims of disasters and those who buy flood insurance.
Southwest Florida May Keep Flood Insurance Discounts As FEMA Reevaluates
Southwest Florida residents may get to keep their discount flood insurance rates after all, as discussions between local governments and FEMA revealed a series of “miscommunications.”
Neptune Flood Acquires Data Science Firm Charles River Data to Enhance AI-Driven Flood Insurance Solutions
Neptune Flood, the nation’s largest private flood insurance company, today announced its acquisition of Charles River Data, a renowned Boston-based data science consulting group.
FloodFlash Launches New Business Interruption Coverage Ahead of Hurricane Season
Ahead of the 2024 Atlantic hurricane season, FloodFlash, the first insurance technology company to offer sensor-enabled parametric flood insurance, is launching a product to support business interruption (BI) coverage in the United States.
U.S. SCS Activity in April Could Drive Hundreds of Millions or Higher of Insured Losses: Aon
Flooding and severe convective storm (SCS) activity across the central and southern US between April 6th and 11th caused some notable property damage, with total economic and insured losses potentially in the hundreds of millions of dollars or higher, according to insurance and reinsurance broker Aon.