FEMA Requests Information About New Direct to Customer Initiative
Big “I” staff met with FEMA as part of the Flood Insurance Producer National Committee (FIPNC) to express concern with the new Direct to Customer initiative proposal.
News
Global Insured CAT Losses Down 31.6% in H1 2022
While CAT losses are down in the first half of 2022, they are 18% higher than the 21st-century average, according to Aon.
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.
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).
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.
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.
