Tag Archives: Flood Insurance

Is Your Home Ready for Peak Hurricane Season?

Is Your Home Ready for Peak Hurricane Season

By Richard A. McGrath, CIC, LIA Peak hurricane season is right around the corner, starting in mid-August and lasting through late October. Are you confident that your homeowner’s insurance policy will provide enough protection to cover the cost of potential damage? The New England region is no stranger to the devastation caused by hurricanes. In […]

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4 Things Flood Insurance Policyholders Should Know About NFIP Changes

4 Things Flood Insurance Policyholders Should Know About NFIP Changes

The Federal Emergency Management Agency (FEMA) is taking strides to strengthen the National Flood Insurance Program (NFIP) through recent legislation, such as the Biggert-Waters Flood Insurance Reform Act of 2012 and the Homeowner Flood Insurance Affordability Act of 2014 (HFIAA). These changes are working to make the NFIP actuarially sound by better aligning flood premiums to their level of […]

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Flood Insurance Policyholders Feel the Impact of HFIAA

Flood Insurance Policyholders Feel the Impact of HFIAA

Across the country, flood insurance policyholders (and their wallets) are feeling the impact of the changes mandated by the Homeowner Flood Insurance Affordability Act of 2014 (HFIAA). The law, passed by President Obama in March of 2014, went into effect April 1, 2015 as a way to slow some flood rate increases, as well as […]

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Flood Insurance Basics for the Spring Thaw

Flood Insurance Basics for the Spring Thaw

After weeks of winter storms with heavy snow, it’s finally starting to look and feel like spring time in New England. Although everyone is anxious for the warmer weather to begin, spring can bring about heavy rains and rapid snow melt that can increase chances of flooding. Am I at Risk for Flooding? As the […]

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The Benefits of Earthquake Insurance in New England

The Benefits of Earthquake Insurance in New England

Living in New England, you might be asking yourself, is earthquake insurance worth it? Although New England doesn’t have a high frequency of quakes such as out in California, the answer might surprise you. Every state has some risk of damage from an earthquake, as illustrated by the 2008 U.S. Geological Survey National Seismic Hazard Map. The […]

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Summer Safety Tips

Summer Safety Tips

Summer is officially here! Although the warm season can be a fun and relaxing time, it can also expose us to new and unexpected risks. No matter what your plans are this season, stay prepared for the unexpected. Follow these summer safety tips to ensure your summer is not only fun, but safe. Summer Fun […]

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Hurricane Season is Flood Season

Hurricane Season is Flood Season

Coastal areas aren’t the only areas that experience the brunt of the strong winds and torrential rains of a hurricane or tropical storm. And with the hurricane season starting June 1, there is just one question left to ask. Are you covered? Eight out of the ten most expensive federally declared disasters were caused by […]

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Congress Reverses Course of Flood Insurance

By Richard A. McGrath, CIC, LIA Congress took quick action in March to pass the Homeowner Flood Insurance Affordability Act of 2014, blunting the impact of the two main sections of the Biggert-Waters Flood Insurance Reform Act (BW-12) that caused an alarming increase to flood premiums. The new law directly affects the 5.6 million Americans who […]

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Proposed Bill would Decrease Flood Insurance Costs

By Megan Cooney, Marketing Assistant Important Updates to Flood Insurance: March 17, 2014: The U.S. Senate passed the “Homeowners Flood Insurance Affordability Act.” *** The U.S. House of Representatives recently passed a bill that would help lower the cost of flood insurance. On Tuesday, March 4, 2014, the “Homeowner Flood Insurance Affordability Act” was passed […]

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