Keyword
flood insurance
Windsor residents ‘disappointed’ with Ontario government response after August flooding: NDP
September 22, 2017 by Canadian UnderwriterPolicy makers “need to look more closely” at government programs intended to help people recover from natural disasters, and these programs “may evolve” in the coming years, Ontario Municipal Affairs Minister Bill Mauro said Thursday. During question period at Queen’s…
RIMS calls for reauthorization of National Flood Insurance Program, warns of consequences of expiration
August 16, 2017 by Canadian UnderwriterRIMS, the risk management society, is calling on its U.S. membership of risk management and insurance professionals to support its push for the reauthorization of the National Flood Insurance Program (NFIP). “The program’s expiration on September 30, 2017 would leave…
Resiliency, mapping and consumer choice changes recommended for National Flood Insurance Program
May 3, 2017 by Canadian UnderwriterMore focus on resiliency measures, updated mapping techniques and increased consumer choices are among the recommendations for reforms to the National Flood Insurance Program (NFIP) issued by a coalition for “environmentally responsible, fiscally sound approaches to natural catastrophe policy that…
Flood insurance reform bill re-tabled in U.S. congress
March 8, 2017 by Canadian UnderwriterA bill aimed at increasing participation by the private sector in the flood insurance market in the United States was tabled Wednesday in the House of Representatives, a U.S. congressman from Florida announced. The Flood Insurance Market Parity and Modernization…
Flood Money
January 2, 2017 Greg Meckbach, Associate EditorWhile the federal government continues to “explore options” for a national approach to flood insurance, a major reinsurer warns coverage is unaffordable to many high-risk properties.
West Virginia Governor calls special legislative session to address “unprecedented” June flood costs
September 19, 2016 by Canadian UnderwriterEarl Ray Tomblin, the Governor of West Virginia, announced on Friday an extraordinary session of the state legislature to address the state’s share of costs associated with flooding in late June of this year. “The June flooding was unprecedented in…
Nearly 60,000 single-family homes in New Orleans to move out of special flood hazard areas by end of September: CoreLogic
August 30, 2016 by Canadian UnderwriterNearly 60,000 single-family homes in New Orleans with a reconstruction cost value (RCV) of more than US$12 billion will move out of Special Flood Hazard Areas (SFHAs), according to updated maps published by the Federal Emergency Management Agency (FEMA). Officially…
Indictment: Engineering firm altered Superstorm Sandy damage reports
August 4, 2016 Michael Balsamo - THE ASSOCIATED PRESSMINEOLA, N.Y. – An engineering firm that was hired by insurance companies to evaluate damage caused by Superstorm Sandy was charged Monday with illegally altering reports prepared by inspectors in the field. HiRise Engineering and one of the company’s project…
U.S. forum urges need for disaster-exposed communities to be more resilient: A.M. Best
June 27, 2016 by Canadian UnderwriterIndustry players focused on resilience experts are facing a big, but unfortunately familiar, challenge: making people aware of the critical need to ensure they are prepared for natural disasters in the event they occur. That is, at least in part,…
Excess & surplus property insurers ‘may be first’ to enter U.S. flood market if proposed reforms passed into law: S&P
June 16, 2016 by Canadian UnderwriterWith the United States National Flood Insurance Program scheduled to expire in September, 2017 and the House of Representatives unanimously approving a bill intended to give consumers more choice in buying flood insurance, the market for flood coverage “may end…
Passage of U.S. flood insurance bill would boost development of private market: A.M. Best
May 27, 2016 by Canadian UnderwriterInsurance rating firm A.M. Best Company said on Thursday that it believes that pending legislation that would encourage more private insurers to write flood insurance in the United States would be a positive development for the current flood insurance marketplace…
Federal government issues second call for proposals for the National Disaster Mitigation Program
May 12, 2016 by Canadian UnderwriterPublic Safety and Emergency Preparedness Canada has launched its second call for proposals for the National Disaster Mitigation Program (NDMP). The NDMP aims to reduce the impacts of natural disasters on Canadians by focusing investments on significant, recurring flood risk…