Weather Weighs on Insurance, Home Lending Decisions
The cost of homeowners insurance is on the rise, and not just because property values went up – almost 20 percent across the board – during last year’s homebuying frenzy.
Private Flood Policies Bear Scrutiny
Because of climate change, Spencer Glendon – a senior fellow at the Woodwell Climate Research Center, one of the world’s most respected climate think tanks – said recently that it may not be long before every homeowner in the country will need flood insurance.
Flood Risk Could Influence Property Prices
New research suggests Massachusetts homes face substantially higher costs from flooding over the next 30 years as climate change worsens the risk of strong storms.
FEMA Continues to Sell Flood Insurance Despite Shutdown
The National Flood Insurance Program is again open for business, despite a partial government shutdown that looks set to drag on as President Donald Trump continues to demand funding for a wall on the U.S.-Mexico border be included in any new funding bill passed by Congress.
National Flood Insurance Program Unfairly Maligned
The National Flood Insurance Program has been in the national news recently in a series of unsympathetic reports.
NFIP Set to Expire in Three Weeks Unless Congress Acts
This week’s forecast calls for another nor’easter to follow the one that combined with astronomical high tides to flood the much of East Coast last week. Affected property owners probably hope the magnitude and frequency of those storms would serve as a call-to-action for Congress to reform the beleaguered National Flood Insurance Program.
National Flood Insurance Program a Casualty of Government Shutdown
The National Flood Insurance Program shut down at midnight on Friday along with most of the rest of the federal government. No new policies can be written during the shutdown, but losses sustained during the shutdown will be paid as usual, according the Federal Emergency Management Agency, which administers the plan.
Guest Post: Imminent NFIP Lapse Will Mean Trouble For Homebuyers In Flood Plains
If there is one thing that 2017 has taught us, it’s that uncertainty is certain. From international dealings to domestic policy, no time has been as uncertain as now. There’s no exception when
Hurricane Irma Losses Could Exceed $65 Billion
Preliminary loss estimates for Hurricane Irma is estimated to be between $42.5 billion and $65 billion (excluding uninsured commercial losses), according to a report released today from CoreLogic, a global property information company.
National Flood Insurance Plan Comes Under Criticism
The National Flood Insurance Plan is drowning in debt that it may not be able to repay. Inaccurate flood maps, climate change and premiums that don’t accurate reflect risk levels are just a few of the barriers to solvency.
