Live Insurance News

Flood insurance policies immediately available to some wildfire victims

July 14, 2012July 14, 2012 Marc

FEMA has stated that Colorado residents affected by the fires may qualify for NFIP. The Federal Emergency Management Agency (FEMA) has announced that the Colorado residents who have been impacted by the High Park and Waldo Canyon wildfire flooding may become eligible for immediate flood insurance coverage through an exception to the 30 day waiting period that is usually required. FEMA said that it made this decision following a U.S. Forest Service consultation. Last Friday, President Barack Obama signed the Biggert-Waters Flood Insurance Reform Act of 2012 into law. This…

National Flood Insurance Program reauthorization by White House to benefit home builders

July 13, 2012April 30, 2013

Construction workers see a solid employment future with the signing of the bill. The National Flood Insurance Program’s (NFIP) signing by the White House has brought only good news to the National Association of Home Builders (NAHB) and its members, as they depend on that program for their jobs. The reauthorization of the program over the next five years and keep construction workers employed. The bill was signed with strong support from both Barbra Boxer, the Democratic leader, and Oklahoma Republican James Inhofe. According to President Obama, “This bill will…

The National Flood Insurance Program will live to see another day

July 3, 2012April 30, 2013

Congress votes to keep the NFIP, which provides 5.6 million people with coverage On Friday, Congress gave its approval to extend the National Flood Insurance Program by another 5 years, ensuring that 5.6 million people will be able to maintain their current coverage. The decision was made to help to keep the fragile housing market from additional harm. If Congress had chosen not to renew the program, the result could have been devastating to the housing market, as prospective homeowners in areas considered at risk of flooding would not be…

Flood insurance law to be combined with Highway Bill

June 30, 2012June 30, 2012 Nordstrom

Legislators seek to extend the life of NFIP by combining laws The U.S. House and Senate are currently working to finalize an agreement that would combine a number of legislations under the proposed Highway Bill. The bill was introduced as a way to solve some of the problems with the country’s transportation infrastructure – namely the country’s roadways. The bill has, for some time, been a point of contention amongst politicians for various reasons. Now, legislators are working to make the bill more attractive universally by combining legislation that would…

SmarterSafer.org Statement Praises Congress for Passing Five-Year Extension of National Flood Insurance Reform

June 30, 2012 Guest Author

WASHINGTON ‒ SmarterSafer.org today released a statement praising Congress for passing a five-year extension of the National Flood Insurance Program (NFIP) that includes reform of the NFIP. “Congress passing the extension of the National Flood Insurance Program for five years is a momentous step towards better protecting our communities, environment and taxpayers. Reforms in the bill will guard lives and property, help ensure flood maps are accurate, phase out expensive subsidies, and allow the program to access private sources of financing – putting the NFIP on sounder financial footing while…

Flood insurance premiums to spike for homeowners due to new legislation

June 27, 2012June 27, 2012 S.Vagus

Senate debating legislation that would raise flood insurance rates through NFIP Those living in areas of the U.S. that are prone to floods may soon see a spike in their insurance premiums due to a new legislation currently being debated in the U.S. Senate. The legislations concerns the beleaguered National Flood Insurance Program (NFIP). For years, the program has been a source of affordable insurance coverage for homeowners in risk-prone areas of the country. This affordability has come at a cost for the program itself, however, which has taken the…

Flood insurance program wins short-term extension

May 31, 2012 S.Vagus

Lawmakers take action on NFIP ahead of hurricane season Federal legislators have taken action on the troubled National Flood Insurance Program (NFIP) this week, voting for a short-term extension for the program. NFIP has been plagued with financial woes for several years, after Hurricane Katrina dealt a destructive blow against the U.S. in 2005. The program accounts for the majority of flood insurance policies in the country and is often considered the best place for homeowners to find affordable coverage. Because of this, the program has acquired a massive number…