Flooding is the most common and costly natural disaster in the United States. According to the Pew Charitable Trusts, flood-related disasters have cost more than $850 billion in damages and losses since 2000. To make matters worse, the frequency and severity of flood-related events are predicted to grow over the next several decades. In fact,…
News Source: South Florida Sun Sentinel Author: Ron Hurtibise Date: October 24, 2021 Homeowners hoping for an end to steep property insurance rate increases next year might as well start looking for other expenses to trim. It’s not happening. Costs won’t be stabilizing or going down anytime soon, multiple officials told state lawmakers during committee hearings in Tallahassee…
News Source: Insurance Journal Author: William Rabb Date: October 13, 2021 Just as new research shows that a fourth of the critical infrastructure in the U.S. – along with an increasing number of homes and businesses – are at risk of flooding in the next 30 years, FEMA is seeking public input on floodplain standards and…
News Source: South Florida Sun Sentinel Author: Ron Hurtibise Date: September 13, 2021 Florida might have dodged a bullet from Hurricane Ida, but consumers in the Sunshine State ultimately won’t be able to escape its financial wrath. Insurance experts say Ida will drive up rates for reinsurance — which is insurance that insurance companies must buy to guarantee…
FOR IMMEDIATE RELEASE Federal Association for Insurance Reform (FAIR) sends Letter to Congress: NFIP Reauthorization, Risk Rating 2.0, & Affordability This morning, FAIR sent a letter to the House Committee on Financial Services and the Senate Committee on Banking, Housing, and Urban Affairs. Specifically, FAIR supports full, long-term reauthorization of the National Flood Insurance Program…