Live Insurance News

Flood insurance may not be the best solution in Ohio

June 19, 2013June 17, 2013 Marc

Ohio lawmakers look for alternative to flood insurance In light of recent flooding disasters, as well as major natural disasters in general, state officials throughout the U.S. are beginning to take measures to mitigate the country’s exposure to these catastrophes in the future. In Ohio, lawmakers are beginning to push more aggressively for federal funding that could help bolster the state’s defenses against floods. State officials claim that flood insurance is simply not enough of a safety net for homeowners that could fall victim to flood disasters. Insurance may not…

Mayor Bloomberg looks for alternative to flood insurance

June 18, 2013June 15, 2013 Logan B.

Flood insurance may not be adequate safety net for New Yorkers New York is no stranger to hurricanes and flooding disasters, but the recent onslaught of Hurricane Sandy has sparked new action when it comes to the matter of flood insurance and protection for state residents. Hurricane Sandy dealt a terrible toll to the state, causing a significant amount of damage from strong winds and, primarily, flooding. Many homeowners throughout the state that were affected by the storm found that their properties were not protected from flood damage due to…

Flood insurance rates to spike in New York and New Jersey

June 11, 2013June 10, 2013 Logan B.

Flood insurance rates expected to rise in wake of Hurricane Sandy More than six months have passed since Hurricane Sandy barreled into New York and New Jersey. The two states suffered horrendous damage from the storm, but not from its strong winds. Floods caused the majority of the damage associated with Hurricane Sandy, which has proven to be a problematic issue for the victims of the powerful storm, especially those without flood insurance protection. The uninsured and the uninformed suffered serious losses due to the storm, with most believing their…

Insurance industry prepared to handle hurricane season

June 6, 2013June 4, 2013 S.Vagus

insurance news - atlantic hurricane season

Insurance industry will be capable of handling threats of the 2013 hurricane season There are many concerns swirling around the U.S. concerning this year’s hurricane season. Many of these concerns relate to the impact that 2012’s Hurricane Sandy had on the East Coast. This single event caused more than $75 billion in damages in the U.S. and elsewhere and is considered the second costliest hurricane the country has ever seen. The National Oceanic and Atmospheric Administration recently announced that it predicts as many as 6 major hurricanes to form in…

Hurricane season draws more attention to homeowners insurance

June 3, 2013June 1, 2013 Logan B.

Homeowners insurance becomes top priority as hurricane season approaches Hurricane season in the U.S. is fast approaching, which means that many states along the Atlantic Ocean and the Gulf Coast are beginning to take steps to raise awareness of prominent homeowners insurance issues. In the past, powerful hurricanes have caused significant damage in several states. The most recent example of how much damage can be caused by one of these natural disasters can be seen in 2012’s Hurricane Sandy. The homeowners insurance sector continues to reel from the disaster even…

As Hurricane Season Begins, Smartersafer.org urges Congress to Pass Mitigation

June 3, 2013 Guest Author

MEASURES TO PREVENT HIGH COST OF BEING UNPREPARED FOR NATURAL DISASTERS WASHINGTON ‒ With the 2013 hurricane season getting underway today, SmarterSafer.org is urging Congress to begin work on a legislative strategy to promote mitigation incentives that will minimize the financial impact disasters like Sandy. “Now that hurricane season is here, we should be reminded of the terrible cost of being unprepared for severe storms,” said SmarterSafer.org. “It’s long past time for Congress to pursue a national mitigation strategy. These kinds of measures will help save taxpayers billions of dollars…

Flood insurance program changes could increase rates

June 1, 2013May 30, 2013 H. Cutner

The national program will be facing some alterations and this could impact the amount paid for coverage. As today is the official start of the hurricane season and homeowners are being cautioned that there are some changes that are on the way for the National Flood Insurance program (NFIP) because it could impact the rates that they are paying. This is especially true in areas of considerably higher risk, such as in the South of Florida. The flood insurance claims that came swamping in following Superstorm Sandy made FEMA have…