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 […]
The month of August is not particularly kind to the state of Louisiana. In 2005, Hurricane Katrina and a failed levee left a trail of devastation. Eleven years later, this month, a no-name storm delivered an unrelenting rainfall resulting in flash flood emergencies, an overtopped levee, and widespread flooding throughout southern Louisiana. The Red Cross […]
Last month in Houston, TX, torrential rains dumped more than 15 inches in some areas. The following screen capture illustrates the fury of flood warnings in the region on April 18. The severe weather resulted in massive flooding, impassable roads, citizen evacuations, closed schools and crippled businesses. According to local reports, April’s relentless downpour will […]
In a recent post for Property Casualty 360, Sam Friedman and Aditya Udai Signh summarize findings from a Deloitte Financial Services report on the challenges and opportunities of flood insurance privatization. While there are some advantages for private insurers to get back into the U.S. flood insurance business, given the rollback on flood insurance reform, […]