FEMA has completed its 2023 traditional reinsurance placement for the National Flood Insurance Program (NFIP).
Tag: flood insurance
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.
Parametric Insurer FloodFlash Breaks into U.S. Market with CEO Hire
FloodFlash, the first insurance company to pay catastrophic flood claims as quickly as six hours after a flood, announced today the appointment of Mark Hara as CEO of North America.
FEMA Projects Up to $5.3 Billion in Hurricane Ian Flood Insurance Payments
Hurricane Ian could result in NFIP claims losses ranging from $3.5 to $5.3 billion, including loss adjustment expenses.
SageSure Announces Innovative Private Flood Insurance in Texas
SageSure announced the introduction of a new admitted, proprietary residential flood program, initially available in Texas.
Ten Years Later Property Owners Are Still Paying for Superstorm Sandy Damage
Sandy’s storm surge caused the superstorm to be one of the most expensive tropical cyclones to make landfall in the United States.
Swiss Re Forecasts 3Q Loss Following Hurricane Ian Claims
Swiss Re forecast a third-quarter net loss of around $500 million on Tuesday, after the reinsurance company absorbed $1.3 billion in preliminary claims from Hurricane Ian. “While the 2022 Group ROE target of 10% is unlikely to be met given the impact of natural disasters, the Ukraine war, and financial market volatility,” the reinsurer said… Continue reading Swiss Re Forecasts 3Q Loss Following Hurricane Ian Claims