Tag Archives | Insurance

Insurers Rethink Business After Sandy

How does climate change play into their thinking? Of course, there is no evidence climate change caused Hurricane Sandy. But that won’t calm the insurance industry. As once executive explained , it doesn’t matter whether insurers believe in man-made climate change. The number of weather-related events nearly quintupled in North America over the past three […]

New Jersey Community Gets Serious About NFIP Compliance

Sea Isle City, NJ isn’t messing around with National Flood Insurance Program compliance issues. The city recently sent out 193 court summons to owners of non-compliant structures (mostly concerning inadequate flood vents and illegal conversions of below-home storage into living space) telling them to get their structures in order. The city’s motivation? The possible benefits […]

NFIP Extended for 5 Years with Changes

Last Friday the Biggert-Waters Flood Insurance Reform and Modernization Act of 2012 was signed into law. The law extends the National Flood Insurance Program (NFIP) for five years and makes reforms to the program. One of the biggest changes for hurricane-prone areas is the cleverly named “Consumer Option for an Alternative System to Allocate Losses” […]

Growing Agreement that Taxpayers Shouldn’t Subsidize Risky Coastal Development

From today’s New York Times: Insurance companies got out of the business of writing flood insurance decades ago, so much of the risk from sea level rise is expected to fall on the financially troubled National Flood Insurance Program, set up by Congress, or on state insurance pools. Federal taxpayers also heavily subsidize coastal development […]

Proposed Extension to NFIP Would Add Wind Data, Not Wind Coverage

The US Senate is considering an extension to the NFIP that would add a provision wherein the government would assign a ratio of damage caused by water (covered by the NFIP) vs wind (generally covered by homeowner’s insurance). The Coastal Act would use data already gathered by NOAA and FEMA to determine the breakdown. You […]

How Residents Can Lower (or Keep) Homeowner’s Insurance

A good short article on Al.com on how building smarter can do more than just keep buildings safe, it can lower homeowner insurance premiums (to lower flood insurance rates, learn more about the Community Rating System). We’ve long been fans of freeboard, and have touted how much money it can save homeowners. What’s great about […]

Great New Publication on Elevating Existing Homes

We all know that the best way to keep buildings out of flood waters is to keep them out of areas that flood. The reality for most communities, though, is that homes and other structures are already in areas that flood. What to do then? There are many options, of course. You could somehow acquire […]

Sea Level Rise and Beaches: Not a Pretty Combination

Orrin Pilkey, always a lightening-rod for coastal climate change issues, has written a gloomy forecast for the world’s beaches, and has the photos to justify his positions. He acknowledges that predicting the effects of sea level rise on beaches is complex, and that results will vary greatly depending on many factors. But overall, the picture […]

Why and How Businesses (and Municipalities) can Prepare for Disasters

The folks over at the Education Disaster Education Network (EDEN) have come up with a brief video explaining why it’s so critical that businesses develop a business continuity and disaster preparedness plan. Easy enough to translate most of it for municipal offices/departments, too. Worth a quick watch, and a good outreach tool you can use […]