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Latest Flood insurance Stories

2009-04-29 06:00:00

WASHINGTON, April 29 /PRNewswire/ -- June 1, 2009 marks the beginning of Atlantic hurricane season. In addition to knowing appropriate safety precautions, FEMA recommends protecting your property now with a flood insurance policy. It typically takes 30 days from the time of purchase for a policy to become effective. To view the Multimedia News Release, go to: http://www.prnewswire.com/mnr/floodsmart/37952/ "Past hurricane seasons have shown that storms can form as early as the beginning of...

2009-04-14 12:27:00

SEATTLE, April 14 /PRNewswire/ -- Torrent Technologies, Inc. (Torrent) announced today that Rural Community Insurance Company (RCIC), a Wells Fargo Company and subsidiary of Rural Community Insurance Services (RCIS), has selected Torrent to provide technology solutions and back office services supporting their recent entrance into the National Flood Insurance Program's (NFIP) "Write Your Own" (WYO) Program. "We were excited to learn of RCIC's desire to enter the WYO Program and even more...

2009-01-12 06:00:00

WASHINGTON, Jan. 12 /PRNewswire/ -- Heavy seasonal rain and recent wildfire damage can make for a disastrous combination. Winter Rainy Season in the Northwestern United States brings intense winter storms and the majority of annual precipitation to the region. In addition, widespread wildfires this past year have burned more than 1.6 million acres of land in California, Idaho, Nevada, Oregon and Washington. Wildfires leave the ground charred, barren and unable to absorb water. This...

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2007-02-02 00:50:00

WASHINGTON -- Maps used to calculate flood danger in the U.S. rely on data that are decades out of date, according to a report that calls for a new national program to remap land levels. The National Research Council on Thursday proposed an "Elevation for the Nation" program to produce up-do-date data. The most immediate need is for the Federal Emergency Management Agency's flood mapping program. Those maps are used by mortgage companies and FEMA's National Flood Insurance Program to...

2006-08-15 17:43:50

By Peter Henderson NEW ORLEANS (Reuters) - A U.S. District Court judge on Tuesday ruled a Mississippi couple's homeowner policy did not give them coverage for damage from flooding caused by Hurricane Katrina, in a major win for the insurance industry. Paul and Julie Leonard were awarded $1,228 to cover wind damage but lost their argument that their Nationwide Mutual Insurance policy covered flood damage associated with the storm, which they said cost them more than $130,000. The...

2006-08-15 14:34:13

NEW ORLEANS (Reuters) - A U.S. District Court judge on Tuesday ruled against a Mississippi couple who had sued Nationwide Mutual Insurance to recover damages from flooding during Hurricane Katrina under their homeowners policy after their house suffered $130,000 of damage. The case has been closely watched by thousands of homeowners who believe damage from floods that accompanied the storm along the U.S. Gulf coast should be covered under policies generally meant to cover hurricane...

2006-06-27 20:31:53

By Susan Cornwell WASHINGTON (Reuters) - The U.S. House of Representatives passed on Tuesday legislation to bolster the U.S. flood insurance program, struggling under a load of debt after last year's horrendous hurricanes. The measure raises the program's borrowing authority to $25 billion from $20.8 billion, while requiring the agency that oversees the program, the Federal Emergency Management Agency, to tell Congress how it will repay the funds it borrows. Rep. Mike Oxley,...

2006-05-25 18:56:59

WASHINGTON (Reuters) - A U.S. Senate committee voted unanimously on Thursday to overhaul the bankrupt National Flood Insurance Program by eliminating subsidies, raising premiums, stiffening coverage requirements, and redrawing flood maps. The vote by the Senate Banking Committee sends the measure to the Senate floor for consideration. With hurricane season about to start, the panel's chairman, Sen. Richard Shelby, said he would work with the chamber's leadership to try to get the...

2006-02-16 00:25:00

WASHINGTON -- Repairing flood damage to 95,000 single-family homes in New Orleans is expected to cost $8 billion to $10 billion, but flood insurance will cover only half these costs, according to a study released on Wednesday by the Mortgage Bankers Association. As many as 35,000 single family structures on New Orleans' East Bank, which contains the Lower Ninth Ward, may not be economically repairable, given the potential for post-Katrina value declines, the study said. In some ZIP codes such...

2006-02-15 12:42:01

WASHINGTON (Reuters) - The U.S. House of Representatives on Wednesday approved and sent to President George W. Bush a bill to raise the borrowing authority of the government's flood insurance program to $21.2 billion to cover claims from Hurricane Katrina and other storms. But some lawmakers warned they would not support raising the borrowing authority again without first reforming the National Flood Insurance Program, which is run by the Federal Emergency Management Agency. The...


Word of the Day
endocarp
  • The hard inner (usually woody) layer of the pericarp of some fruits (as peaches or plums or cherries or olives) that contains the seed.
This word comes from the Greek 'endon,' in, within, plus the Greek 'kardia,' heart.
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