National Flood Insurance Program News
Hiscox Re Offers Private Label Flood Endorsement for U.S. Insurers
Bermuda-based reinsurer Hiscox Re, along with insurance linked securities investors (ILS), has launched a flood insurance product for personal lines insurers to sell in the U.S. The turnkey flood ...
NFIP Could Go Broke Week After Next, Warns FEMA
The National Flood Insurance Program, struggling with the costs of this year's record hurricane season, will run out of money as early as Oct. 23 unless Congress takes action. The Federal Emergency ...
House Unveils $36.5B Bill to Help With Hurricane, Wildfire Relief
House lawmakers unveiled a bill Tuesday night that would provide $36.5 billion in emergency funding for hurricane and wildfire relief requested by the Trump administration. With Congress under ...
Trump Administration Proposes Curtailing Flood Insurance in Flood-Prone Regions
President Donald Trump proposed ending federal flood insurance for new homes in areas most at risk of flooding, a change that could curtail new construction in vast parts of Florida, Louisiana and ...
Trump Reportedly Seeking $29B National Flood Insurance/Disaster Aid Funding
The Trump administration will ask Congress to provide $29 billion in disaster aid and national flood insurance for hurricane-recovery efforts, a Republican lawmaker said Tuesday. Of that amount, $16 ...
Bill to Ensure Private Policies Meet Flood Insurance Requirement Passes House
The House of Representatives voted 264-155 today to pass bipartisan legislation that encourages the sale of private flood insurance in place of policies from the federal government in high risk areas ...
Allstate CEO Wilson Urges Congress to Overhaul Federal Flood Insurance Program
Allstate Corp's Chief Executive Officer Tom Wilson on Tuesday called on U.S. lawmakers to overhaul a government subsidized flood insurance program, calling for a more streamlined system that does not ...
NFIP Head: $11B in Payouts Likely for Hurricane Harvey Insured Homeowners
The head of the National Flood Insurance Program said Wednesday early estimates show Hurricane Harvey will result in about $11 billion in payouts to insured homeowners, mostly in southeast Texas. ...