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Lack of Flood Coverage Leads to ‘Heartbreaking’ Situations in Post-Hurricane Ian Florida

Lack of Flood Coverage Leads to ‘Heartbreaking’ Situations in Post-Hurricane Ian Florida

A number of homeowners around Fort Myers Beach, Florida, are expressing frustration over the status of their insurance claims related to damage from Hurricane Ian. According to a recent New York Post report, more than 25% of closed insurance claims in Lee County have been denied, over 30,000 claims are still pending, and some of the 135,000-plus claims that were…

Ask the Expert Q&A: Flood Insurance

Ask the Expert Q&A: Flood Insurance

A growing number of individuals are at risk for flood damage to their homes, but many remain uninsured. To learn more about Flood Insurance, we spoke with Jacob Martin, Manager, Flood, Burns & Wilcox, Charlotte, North Carolina. How serious is the risk of flood for homeowners today? J.M.: What we are seeing with climate change is more severe storms. As…

New Flood Insurance Rating System Brings Major Changes to NFIP

New Flood Insurance Rating System Brings Major Changes to NFIP

A new flood-risk rating system went into effect April 1 for all National Flood Insurance Program (NFIP) policy renewals, moving the U.S. government-backed Flood Insurance program to a method of determining premiums that is expected to be more precise and equitable. According to FEMA, the Risk Rating 2.0 system uses industry best practices and the latest technology to provide rates…

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