After Quiet April, NFIP Faces an Uncertain Future
As the NFIP heads for reauthorization later this year, the pressure will continue to build—particularly for agents who feel the burden of educating their clients about flood market uncertainty.
Flood
Congress Questions Flood Insurance Compensation
As Congress seeks to reform the NFIP before it expires on Sept. 30, it’s examining lowering the compensation that insurance companies and independent agents earn for administering the program.
Flood Insurance: Hot Topic on Capitol Hill
As the NFIP’s Sept. 30 expiration date looms, Congress is beginning to focus more on the program’s reauthorization and reform.
FEMA to Send Letters Informing NFIP Policyholders of Flood Risk
As required by the Homeowners Flood Insurance Affordability Act of 2014, starting this month, FEMA will send each NFIP policyholder a letter outlining their known flood risk and how it relates to their premium.
Big ‘I’ Briefs Congress on Flood Insurance
The briefing focused on why flood is different than other perils, where the private flood insurance market currently stands, how the NFIP operates and more.
Flood Reform Update: House Committee Releases Draft Principles
Republican leadership in the U.S. House of Representatives Financial Services Committee took the first step in addressing reauthorization of the NFIP, which is set to expire on Sept. 30, 2017.
In the Works: Bill to Cap Flood Insurance Company Profits
The Big “I” has serious concerns with draft legislation that could impact how agents receive compensation for selling flood insurance policies.
Feds Propose New Flood Insurance and Floodplain Management Rules
Last month, a group of federal agencies issued a proposal that aims to clear up confusion regarding when a lender may accept private flood insurance under federal law.
NFS Edge Launches Private Flood Option for Condo Associations
NFS Edge has launched a private flood insurance alternative to the NFIP’s policy for residential condo associations, tailored to meet the needs of those located in high-risk flood areas.
Senate Committee Reviews NFIP Flood Maps
This week, the Big “I” submitted a joint trade association letter to the U.S. Senate Banking Committee hearing outlining priorities for the next NFIP reauthorization.
