National Flood Insurance Program

Don't expect the insurance industry to protect you from climate change

Banks and insurance experts are reporting that, with 2 ½ months to go, the 2017 Atlantic hurricane season is already one of the most expensive to date for the insurance industry.<p>Here’s the weird part: Insurance companies are quietly happy about this. About the time that Hurricane Irma was making …

Climate

The stunning price tags for Hurricanes Harvey and Irma, explained

Damage estimates are rising, but they're still lowballs.<p>Estimates for the cost of Hurricane Harvey’s damage have come in at $65 billion, $180 billion, and as high as $190 billion — the last of which would make it the costliest disaster in US history.<p>The numbers from the second record-breaking storm …

FEMA

Should flood-prone homes be rebuilt?

More than 100,000 claims have been submitted under FEMA's National Flood Insurance Program, which is nearly $25 billion in debt

Hurricane Harvey

NFIP Or Bust? The Reinsurance Layer Certainly Is, But Once Or Twice?

Estimates of losses to the National Flood Insurance Program (NFIP) from hurricanes Harvey and Irma's flooding are on the rise, leaving the NFIP's …

Business

Chicago insurance adjusters are in demand after Irma and Harvey

A thousand miles from the devastation wrought by hurricanes Harvey and Irma, Chicago-area insurance claim adjusters are in high demand.<p>In addition to an army of staffers dispatched by Allstate and State Farm, scores of independent adjusters have been called to the front lines in Texas and Florida …

How Andrew helped insurers avoid devastating losses from Harvey, Irma

Insurance companies have the resources to weather the tens of billions of dollars in claims expected in the wake of the devastation delivered by hurricanes Harvey and Irma.<p>“It would be fair to say that many insurers will have less than a fully profitable year, but probably no one will go out of …

Insurance

Congress Can Fix Flood Insurance This Year

Harvey and Irma motivate both parties to pass long-needed reforms.<p>It would be hard to find a more unlikely pair of congressmen than the two of us to find agreement on a highly controversial issue. After working on the complicated issue of flood insurance, however, we’ve concluded that the way the …

Business

Lawmakers Sing a Bipartisan Tune as a Bitter Fall Looms

Trump’s recent deal-making elicits confusion and hope<p>Bipartisanship is the song of September.<p>But as President Donald Trump amps up his outreach to …

Politics

One Repeat Flood Victim On Whether To Rebuild

Houston homeowners like Dean Bixler are wondering if it's better to just take a buyout after Harvey.

Hurricane Harvey

Farmers Insurance adjusters camp out in Texas after Harvey

To process tens of thousands of auto and property claims with losses already well into the billions of dollars, insurance companies have adjusters …

Business

Specialist insurer Hiscox estimates claims of $150m from Hurricane Harvey

Hiscox, the specialty insurer, said on Monday that it forecasts claims of about $150m resulting from Hurricane Harvey that devastated Houston, Texas …

Hurricane Harvey

FEMA issues relief checks to Superstorm Sandy victims after five years

Many victims of the last massive storm to swamp the U.S., 2012’s Superstorm Sandy, are still waiting for their government checks — raising questions …

Hurricane Sandy

Sandy survivors warn Harvey and Irma victims about what’s ahead

Gary Silberman stands for a picture as he guides reporters on a tour of his parent's home that was destroyed by Superstorm Sandy, Friday, Sept. 5, …

Liberal View

Fort Smith riverfront work accounts for flood risk

With three historic floods in 2015 and three flood-stage crests already this year, inundations from river rises around Fort Smith and Van Buren have …

Business

Why The Government Sells Flood Insurance

Taxpayers will cover a large part of the cost of hurricane damage. Historian Stephen Mihm of the University of Georgia talks with Scott Simon about the history of the National Flood Insurance program.

News (U.S.)

Hurricane Harvey victims may be at a loss for coverage

Hurricane Harvey, the first hurricane to strike the Texas coast since 2008, roared ashore with winds of up to 132 mph. But much of the storm's …

Hurricane Harvey

One House, 22 Floods: Repeated Claims Drain Federal Insurance Program

Brian Harmon had just finished spending over $300,000 to fix his home in Kingwood, Texas, when Hurricane Harvey sent floodwaters “completely over the roof.”<p>The six-bedroom house, which has an indoor swimming pool, sits along the San Jacinto River. It has flooded 22 times since 1979, making it one …

News (U.S.)

Business interrupted: hurricane-damaged firms dig in for insurance fight

NEW YORK (Reuters) - Business owners who are trying to get back on track after hurricanes Harvey and Irma now face a different sort of challenge: …

FEMA

Harvey and Irma are the new normal. It’s time to move away from the coasts.

When Hurricane Irma made landfall in the United States last weekend, it first brought its fury to the Florida Keys. For much of the past century the roseate spoonbill — that funky, pink shorebird with a bill shaped like a serving utensil — has called this island chain home. But about a decade ago, …

Staten Island

Rethinking the ‘Infrastructure’ Discussion Amid a Blitz of Hurricanes

<i>This post originally appeared at</i> ProPublica.<p>The wonky words infrastructure and resilience have circulated widely of late, particularly since …

Climate

Hurricanes Irma and Harvey have racked up billions in damages. Who pays?

Who will pick up the tab in Florida, Georgia and Texas?<p>That's the big question, now that flood waters from Hurricanes Irma and Harvey have receded. Left behind is damage that Moody's Analytics expects will exceed $150 billion, on par with the cost of Hurricane Katrina.<p>After any major natural …

Insurance

Disaster insurance needs an overhaul

The federal government provides formal and informal disaster insurance to the states. Formal programs include the National Flood Insurance Program, …

Climate

Congress May Need to Throw a Lifeline to Flood Insurance Program

Money running out because of season’s hurricanes<p>Congress may have to act to prevent a federal flood insurance program that is already $24.6 billion …

Politics

Can the federal government afford to insure homes that face repeated flooding?

The government is facing billions of dollars in flood insurance claims following hurricanes Harvey and Irma, and residents that live in flood-prone homes are applying for government buyouts though the Federal Emergency Management Agency, also known as FEMA. So can the financially-troubled National …

News (U.S.)

Hurricane Harvey Unlikely To Boost Pricing Power For Insurers

Total insured losses for property & casualty insurers from the Texas-based hurricane are expected to range from $10 to $20 billion, well below the …

Business

Protect Yourself From Hurricane Harvey and Irma Scams

As many parts of the South start rebuilding after the devastating effects of Hurricanes Harvey and Irma, there’s a new peril to beware: scams.<p>“People …

Consumer News

The Angels of Irma

A hurricane is a monster with two orders of magnitude. It is a weapon of mass destruction--an atmospheric daisy cutter that descends on a region and …

Long-form Journalism

Monster Storms Change Coastlines, Not Minds on Climate Change

Back-to-back hurricanes fueled by warm Atlantic waters may have altered the coasts of Texas and Florida, but there’s no indication they are shifting …

Business

Superstorm Sandy flood victims warn Irma is just the beginning | McClatchy Washington Bureau

In 2011, The National Flood Insurance Program told Claudette D’Arrigo that her Highlands, New Jersey home was structurally sound after Hurricane …

Hurricane Sandy

Sandy victims to hurricane survivors: Now it gets tough

WASHINGTON – Victims of Hurricane Sandy have a message for Texas and Florida residents devastated by Hurricanes Harvey and Irma: Your torture has …

Tom MacArthur