A short-term reauthorization of the National Flood Insurance Program through to Feb. 2, 2024, was included. The legislation also included an extension of the current Farm Bill through to Sept. 30, 2024.
Joe Rossi, CEO and president of Joe Flood Insurance Brokerage, was appointed chair of the Flood Insurance Producers National Committee, where he will represent the Big “I” and other producer groups.
While the short-term reauthorization of the NFIP is certainly helpful, the Big “I” continues to advocate for a long-term reauthorization of the program.
FEMA released a memo to Write-Your-Own companies and NFIP Direct servicing agents providing guidance on a potential lapse in NFIP authority.
A carrier denied a client’s property damage claim because the water was “surface water.” The property had the standard ISO special perils form, as well as coverage on a sublimit for sewer and drain backup.
The severe flooding in the Southeast U.S. brought by Hurricane Idalia highlights the importance of flood insurance.
National Oceanic and Atmospheric Administration (NOAA) forecasters are predicting 21 named storms, of which up to 11 could become hurricanes.
Here are six of the most common misconceptions the general public shares about flood coverage, which affect an agent’s ability to sell a flood policy.
The exposure to flood losses has forced more residents and business owners to purchase flood insurance, while insurers are reevaluating the extent of their risks.
Despite the frequency of flooding, inflation and an uncertain economic outlook can make flood insurance a difficult sell.
