NFIP News
A.M. Best: ‘Benefits to Be Gained’ From Flood Insurance Market Expansion
The U.S. Senate is gearing up to consider a bill that would revamp and expand the U.S. flood insurance market, and its passage appears likely. A.M. Best said this will be a very good development for ...
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 ...
Significant Auto Losses Expected From Carolinas Storm
Claims are already starting to trickle in from the major storm that hit South Carolina over the weekend and is now causing additional flooding problems in North Carolina. According to State Farm ...
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 ...
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 ...
Florida Seeking Private Insurer Fix for Flood Insurance Problem
The Florida Legislature is moving forward on a plan to entice private insurance companies to sell flood policies in the state that's the most vulnerable to storm surge. It's not clear, though, that ...