National Flood Insurance Program News
Assurant to Take on Nationwide’s FEMA Flood Insurance Business
Nationwide will start winding down its status this May as a "Write Your Own" carrier within FEMA's National Flood Insurance Program. Assurant said it formed an agreement with the insurer to fill the ...
The Changing State of Flood Insurance in the U.S.
Catastrophic floods have been damaging homes for as long as people have had permanent dwellings. They can cause devastating losses to homeowners and businesses alike almost anywhere in the U.S., both ...
Severe Floods Could Slam California Region With $24B in Damage: Lloyd’s of London
Severe flooding in an economically vital part of California's could cost more than $24 billion in damage, Lloyd's of London concludes in a new risk analysis of the state. What's more, climate change, ...
Munich Re Steps Into U.S. Private Flood Insurance Market
Munich Re's U.S. arm sees growth potential in the private flood insurance market. The German reinsurer is launching a personal lines inland flood insurance product targeted at giving more options to ...
Outgoing Flood Insurance Program Director Blasts Inefficiencies
The outgoing director of the National Flood Insurance Program (NFIP) says the program is a "melting iceberg" that is incapable of properly managing its various players including the private insurance ...
With Premium Refunds in Process, Criticism of Flood Insurance Program Ebbs
Insurance agent, insurance carrier and real estate lobbyists praised federal regulators in charge of the National Flood Insurance Program (NFIP) last week on Capitol Hill, agreeing that the process ...
Mississippi Commissioner Files Motion to Drop Flood Insurance Suit
The Mississippi Department of Insurance will drop a lawsuit filed in 2013 against the National Flood Insurance Program. The lawsuit, filed in federal court in Jackson, sought to block flood insurance ...
Privatizing Flood Insurance Presents Opportunities, Challenges: Deloitte
Privatization of the National Flood Insurance Program (NFIP) would present a huge growth opportunity to the property/casualty market, allowing insurers to tap into about $3.3 billion of yearly ...