The federal government knew a reservoir system it built in the Houston area in the 1940s was likely to flood private residences, and is liable for damage incurred there during Hurricane Harvey, a judge ruled Tuesday. The ruling from the U.S. Court of Federal Claims brings the owners of some 10,000 properties in subdivisions west… Continue reading Judge Finds U.S. Liable for Hurricane Harvey Damage
Tag: NFIP
Dorian and Imelda are the 2019 Atlantic Hurricane Season’s Most Damaging U.S. Storms: I.I.I.
The 2019 Atlantic hurricane season is about to conclude with 18 named storms, six hurricanes and three major hurricanes (Category 3 or higher), according to the Insurance Information Institute (I.I.I.). One tropical storm — Imelda—and two hurricanes—Barry and Dorian—made landfall in the U.S. during the six-month hurricane season, which officially ends on Nov. 30. “This… Continue reading Dorian and Imelda are the 2019 Atlantic Hurricane Season’s Most Damaging U.S. Storms: I.I.I.
FEMA Delays Major Changes to Flood Risk Rating Program Until 2021
Major changes to the way the federal government rates flood risk are being pushed back a year. The Federal Emergency Management Agency delayed the release of its “Risk Rating 2.0” plan, which would rate homes’ flood risk more precisely than current models. It will now go into effect in October 2021. “Some additional time is… Continue reading FEMA Delays Major Changes to Flood Risk Rating Program Until 2021
Chubb Appoints Industry Veteran to Lead Flood Insurance Practice
Chubb announced that Louis Hobson has joined the company as Senior Vice President of Flood Insurance for its North America operations. In this new role, Mr. Hobson will work in conjunction with Chubb’s personal and commercial lines of business, and lead efforts centered on the development and implementation of strategies to further broaden the delivery… Continue reading Chubb Appoints Industry Veteran to Lead Flood Insurance Practice
Report: FEMA Post-Flood Home Buyouts Take 5+ Years To Complete After Waters Recede
In the aftermath of Hurricane Dorian churning up the eastern seaboard, leaving destructive flood waters in its wake, a new national report describes FEMA policies creating a nightmare for disaster survivors deciding what to do with destroyed or damaged homes. For those who want to move out of a flood zone, the wait time for… Continue reading Report: FEMA Post-Flood Home Buyouts Take 5+ Years To Complete After Waters Recede
R Street Institute: Dorian Is Urgent Reminder of Need for Flood Insurance Reform
As the U.S. Southeast braces for the impact of Hurricane Dorian, it is urgent that Congress get serious about reforming the National Flood Insurance Program (NFIP), according to the R Street Institute. Created by Congress in 1968, the NFIP has been the primary source of insurance coverage for flooding over the past 50 years. While… Continue reading R Street Institute: Dorian Is Urgent Reminder of Need for Flood Insurance Reform
Two Years After Hurricane Harvey, Flood Insurance Payouts Near $9B
August 25, the second anniversary of Hurricane Harvey’s landfall along the Texas coast, is a great reminder to buy or renew a policy with the National Flood Insurance Program. When Hurricane Harvey struck the Gulf Coast two years ago, it brought prolonged rain and flooding to much of southeast Texas. After the storm, about 92,000… Continue reading Two Years After Hurricane Harvey, Flood Insurance Payouts Near $9B
FEMA to Further Restrict Puerto Rico’s Access to Relief Funds
Federal mistrust toward Puerto Rico amid corruption allegations hasn’t let up with the governor’s resignation. Citing the continuing leadership changes in the U.S. territory, the Federal Emergency Management Agency said Thursday it would further restrict Puerto Rico’s access to federal dollars for repairing hurricane damage. Puerto Rico must receive approval from the agency to draw… Continue reading FEMA to Further Restrict Puerto Rico’s Access to Relief Funds
Outdated FEMA Flood Maps Cost Uninsured Homeowners Millions
Mexico Beach, Florida, was ground zero for Hurricane Michael, destroying 70% of the resort community’s homes and businesses with its Category 5 winds and 18-foot storm surge. Because its flood maps hadn’t been updated in 10 years, 80% of those structures were uninsured because FEMA placed them in flood zone “X” – areas that have… Continue reading Outdated FEMA Flood Maps Cost Uninsured Homeowners Millions
Louisiana Senators Work on Bipartisan Bill to Improve National Flood Insurance Program
Tropical Storm Barry has come and gone in Louisiana and in it’s aftermath there was flooding and damage. Senator Bill Cassidy said this storm could’ve been much worse for the state. “The lack of flooding was a testament to investment in mitigation and preparation on the state level and the community level,” Cassidy said. Even… Continue reading Louisiana Senators Work on Bipartisan Bill to Improve National Flood Insurance Program