“Flood insurance is very important for overall risk management,” says independent agent Ryan Andrew. “My agency works to educate clients on the importance of flood insurance even if they don’t live on the coast or near a large body of water.”
While the National Flood Insurance Program remains the main source of standalone flood insurance in the U.S., the number of primary and excess private flood insurance options continues to grow.
Today, FEMA issued notification of Risk Rating 2.0 program changes to the National Flood Insurance Program effective on October 1, 2021, the overall timeline for implementation of Risk Rating 2.0 and FEMA’s expectations of NFIP insurers.
Big “I” members will have the opportunity to discuss issues such as small business tax fairness, future pandemic response, and more in virtual meetings with members of Congress.
The Department of Housing and Urban Development proposal to accept private flood insurance for Federal Housing Administration insured loans continues to raise concerns, particularly around the wording of the rule.
The 2021 Conference will be held April 13-16 and will include addresses from members of Congress, a legislative update on key independent agent issues and more. Here is a preview of the issues Big “I” members will bring to Capitol Hill.
The 2021 Conference will be held April 13-16 and will include addresses from members of Congress, a legislative update on key independent agent issues and more. Here is a preview of the issues Big “I” members will bring to Capitol Hill.
While the official announcement is yet to be made by FEMA, it is expected to say that new business will be effective October 1, 2021, with renewal business implemented on April 1, 2022.
Neptune Commercial Flood Insurance expands its flood insurance products to include all NFIP product types. Products include residential condominium building associations, apartment buildings, co-ops, hotels, motels and inns.
The proposed rule would allow consumers to purchase a private flood insurance option instead of insurance through the National Flood Insurance Program when flood insurance is required by the Federal Housing Administration.
