70% of Hurricane-Exposed Homes Do Not Have Flood Insurance
Nationally, nearly 7.8 million single and multifamily homes with more than $2.3 trillion in combined reconstruction cost value are at risk of storm surge, according to CoreLogic.
Flood
FEMA Testifies on NFIP Reauthorization
Today, the U.S. Senate Committee on Banking, Housing, and Urban Affairs held a hearing entitled, “Reauthorization of the National Flood Insurance Program: Administration Perspectives.”
Big ‘I’ Submits Testimony for Senate NFIP Hearing; Reauthorization Bill Introduced in the House
In its written testimony, the Big “I” underscored the importance of finally enacting a long-term reauthorization of the National Flood Insurance Program (NFIP).
CAT Preparedness: Navigating Options When Offering Flood Insurance
Independent agents looking to provide flood insurance coverage for their clients must stay informed about the options, including those from the private market.
Big ‘I’ Submits Testimony for NFIP Reauthorization Hearing
The Big “I” submitted a statement that underscored the importance of finally enacting a long-term reauthorization of the NFIP after numerous short-term reauthorizations.
FEMA Offers New Risk Rating 2.0 Webinar Dates for Agents
In May, FEMA is hosting more webinars for agents that will focus on Risk Rating 2.0.
Opportunities Abound for Private Insurers in the U.S. Flood Market
Flooding is the No. 1 natural peril in the U.S., but only about 15% of homeowners purchase flood insurance.
Risk Rating 2.0 Takes Effect for All NFIP Policies Tomorrow
Beginning Friday, April 1, all flood policies must be priced under Risk Rating 2.0 at renewal.
Risk Rating 2.0 Takes Effect for All Policies Next Week
FEMA is currently offering new webinars for agents that will focus on the renewal process under Risk Rating 2.0 beginning April 1.
NFIP Legislation Introduced as Risk Rating 2.0 Deadline Approaches
The bill would require FEMA to publish the formulas used to calculate policyholder mitigation credits under Risk Rating 2.0.
