Insurance News & Info

The Mississippi Senate has given final legislative approval to a bill to allow local governments to enforce federal floodplains codes at hunting and fishing camps and remain in the National Flood Insurance Program. The bill now goes to the governor. … View full post on Insurance Journal » News

A director of the Independent Insurance Agents & Brokers of New York told lawmakers and regulators this week that New Yorkers are dealing with unnecessary hassles when they make flood insurance claims. William Oliver told the panel that the difficulty … View full post on Insurance Journal » News

Eighteen Arkansas residents died in floods last year, the most in any state in the nation but fewer than in the year before, the National Weather Service said. The deaths happened in March through May. Six were in Benton County, … View full post on Insurance Journal » News

Federal aid to victims of the historic flooding that struck eastern Pennsylvania last year has topped the half-billion-dollar mark. In an update on the aftermath of floods from Hurricane Irene and Tropical Storm Lee, the Federal Emergency Management Agency said … View full post on Insurance Journal » News

The state of Mississippi has asked Hancock County for $6 million in funds not spent on a “property acquisition” project. The project is a limited buy-out plan designated to reduce the repetitive losses of residents in low-lying areas of Hancock … View full post on Insurance Journal » News

Congressman John Garamendi, D-Walnut Grove, Calif., on Tuesday introduced the Flood Insurance for Farmers Act of 2012 to help offset the cost of flood insurance that will likely be required in many of the state’s farmlands as aging levee systems … View full post on Insurance Journal » News

Lloyd’s announced that it is estimating its overall net claims from the flooding in Thailand last year to be in the $2.2 billion range. The figure is based on an industry loss estimate of between $15 and $20 billion.   … View full post on Insurance Journal » News

A.M. Best Co. has released a briefing that provides updated estimates of insurers’ losses from the Thailand floods. The overall industry wide insurers’ loss estimates from the floods have increased 50 percent to $15 billion since Best’s last briefing on … View full post on Insurance Journal » News

Gov. Earl Ray Tomblin has declared an agriculture flood disaster in Jackson County stemming from heavy rains in late November. The declaration, made on Tuesday, means the state Department of Agriculture can apply for federal assistance for losses to the … View full post on Insurance Journal » News

The Association of British Insurers (ABI) has warned that the flood risk faced by communities in political constituencies across England and Wales presents a “worrying”‘ situation. It selected “Boston and Skegness in Lincolnshire as the constituency with the most homes … View full post on Insurance Journal » News