Let us begin with a few words of caution about the 2019 Atlantic Hurricane Season. Prepare for the worst and hope for the best. Know your flood risk to prevent uninsured losses, minimize unwarranted expenses, and protect the value of your property. Experts predict a 2019 season, June 1 through November 30, of “near-normal” activity: […]
The Federal Emergency Management Agency (FEMA), which administers the National Flood Insurance Program (NFIP) announced Risk Rating 2.0, a new effort designed to improve how the NFIP determines flood risk and flood insurance premiums. It purports to leverage industry best practices and technology; however, by most accounts, Risk Rating 2.0 will increase premiums and decrease […]
The countdown is on, yet again, for NFIP Reauthorization, the renewal of the National Flood Insurance Program set to expire May 31, 2019. Both the U.S. House of Representatives and U.S. Senate must pass legislation to continue the federal program and will consider changes, improvements, short-term or long-term renewal. Last month’s U.S. House Committee on […]
This is an excerpt of a commentary by Anita Byer, president of Setnor Byer Insurance & Risk in Plantation, FL. Read it in its entirety at Hill Country News. This year is the 50th anniversary of the National Flood Insurance Program, and this federally subsidized program has not aged well. In 2017, it had the […]
Elevation plays a critical role in determining flood risk and flood insurance rates. A couple of feet, a few documentation errors or significant omissions can make a considerable difference in the amount property owners pay for coverage or measures implemented to mitigate flood damage. In Charleston, SC, city officials consider raising elevation guidelines to reduce […]
Elevation Certificates: Why You Need Them Elevation Certificates are important documents that state the elevation of buildings. In addition to elevation, Elevation Certificates also describe the building location, Lowest Floor Elevation, building characteristics, and flood zone. If your home or business is in a high-risk flood zone, Elevation Certificates are indispensable. One reason why you […]