The U.S. House committee charged with investigating government fraud and corruption demanded Monday that the Federal Emergency Management Agency detail just how its new flood insurance pricing system works.
Tag: flood insurance
Sharp Flood Insurance Hikes with Risk Rating 2.0 Across South Louisiana Detailed in New Data
The sharp increases in flood insurance rates south Louisiana communities are facing have been detailed for the first time in data released by FEMA, with one of the state’s ZIP codes projected to see the steepest hikes of any in the nation and others varying widel
ICEYE Nat CAT Solutions Support the Development of the NYC Parametric Flood Pilot Program
ICEYE, a world-leading provider of natural catastrophe solutions and insights, announced today its participation in a parametric pilot program to protect low-income communities in New York City from flooding.
FEMA Sees 36% Decline in Number of Reinsurers for 2023 NFIP Renewal
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.
Groundbreaking Insurtech Company FloodFlash Officially Launches in U.S.
FloodFlash is aiming to augment the flood insurance market in the U.S. by using its parametric technology to make flood insurance available to businesses that can’t get coverage anywhere else.
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).
Previsico and Geosite Partner on Flood Impact Prediction and Prevention
Previsico, which provides real-time, street-level surface water flood forecasts to mitigate flood impacts globally, has announced a partnership with Geosite, a global geospatial data provider.
HUD to Allow Private Flood Insurance Options to FHA Mortgages in Special Areas
Beginning December 21, 2022, HUD will allow homeowners with FHA-insured mortgage financing to obtain flood insurance policies from private insurance providers.
Private Flood Insurers Gain Traction, As Fewer Homeowners Opt for Coverage through the NFIP
Only 30% of Florida residents have National Flood Insurance Program coverage while private carriers increased their total flood insurance premiums by more than 40% to surpass the $1 billion mark in 2021.
Nicole Leaves ‘Unprecedented’ Damage in Its Wake
Nicole’s storm surge carved a path through the Florida coast on Thursday, threatening the foundations of several beachfront homes.