News

Congress passed legislation to fund the federal government and extend the National Flood Insurance Program (NFIP) through Dec. 20.

As thousands more people move in rather than out of fire- and flood-prone areas, independent agents have an opportunity to counter the decline in flood insurance coverage.

The Trusted Choice® survey revealed that while most U.S. insurance consumers don’t fully understand the policies they have purchased, 86% believe they do.

Across the nearly 33 million homes stretching from Texas to Maine that could be impacted by hurricane winds, the combined reconstruction cost would be $10.8 trillion.

Consumers have significant misconceptions about flooding causes and what is and isn’t insured under their homeowners or renters policies.

A short-term reauthorization of the National Flood Insurance Program through March 8 was included in the short-term continuing resolution passed by Congress last week.

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.