TweetAccording to the Insurance Council of Texas, the wildfire that destroyed 1,673 homes while laying barren 33,000 acres around Bastrop Texas, in September 2012 will likely result in $325 million in insured losses, making it the most costly wildfire in … Continue reading
Category Archives: Flood Insurance
Are you insured against “the big one?”
TweetRight now it’s difficult not to talk about and think about what’s going on in Japan. Reuters is reporting that in the 1.8 mile band along the coast that was most affected by the earthquake and tsunami, there’s about $24 … Continue reading
Video Friday: Do You Have Flood Insurance?
TweetAn interesting video out of Florida with information and figures on why you might want to add flood insurance to your existing homeowner’s policy. (People living in areas that are going to face massive snow melt come spring might really … Continue reading
This Year the Spring Thaw May Well Be the Spring Flood
TweetAfter the intense snows people have endured all over the country for weeks now, nobody likes to point out what’s going to happen when it melts, but . . . In Connecticut, the governor is encouraging homeowners so start taking … Continue reading
Industry Begins to Ponder Role of Climate Change
TweetIn browsing around today, I ran across a report from Reuters about insurers struggling to factor in the growing risks from climate change. The article was in specific reference to the massive floods in Australia and Brazil, but what caught … Continue reading
Video Friday: Federal Flood Insurance Inequities
TweetAlthough this news clip is Michigan-specific, it goes a long way toward explaining the extended debate over the federal flood insurance program. The people along the Gulf Coast need it . . . but the people of Michigan and other … Continue reading
Sewer Back-up Coverage a Must in Flood Areas
TweetWe’ve discussed before the extent to which Hurricane Katrina fundamentally changed the way the insurance industry writes policies in a flood plain. In some cases that change is pretty straightforward. They don’t write the policies at all. That’s where the … Continue reading
Texas Coastal Atlas Valuable in Risk Assessment
TweetIn the wake of Hurricane Katrina and the devastation to the Gulf Coast, flood insurance has become a real hot potato. The federal flood insurance program has been allowed to expire twice, there’s great controversy about adding wind insurance to … Continue reading
National Flood Insurance Gets Temporary Extension
TweetThis past Wednesday, September 22, the House of Representatives voted to extend the National Flood Insurance program. An action repeated by the Senate a day later. The bill is now on the way to the White House for the president’s … Continue reading
On Going Debate Over Katrina Damage Points to Industry Failure
TweetHurricanes Wilma, Katrina, and Rita redefined the way insurance is handled on the Gulf Coast forever. In Mississippi, more and more property owners are being forced to go to the state wind pool for coverage after being dropped by their … Continue reading