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After years without a blockbuster hurricane, Florida’s insurance funds are looking solid. But a controversial shakeup is raising eyebrows, and a heavy storm season could still bring trouble.
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Texas Windstorm Insurance Reform Bill Fails, But Could Be Revived
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Congress is working on measures that would postpone drastic premium hikes slated to kick in this year under National Flood Insurance Program reforms passed in 2012.
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Owners of vacation or investment houses on the shore aren’t on FEMA’s list for post-Sandy financial aid. But they are on the list of houses that have to be elevated — now.
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Increased premiums included in last year’s flood insurance reform package are starting to make waves in coastal states.
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Federal authorities have approved hundreds of millions of dollars of funding to help New York State buy out homeowners in threatened shore areas. But most storm victims would rather rebuild.
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The Texas legislature is taking on a reform effort for the Texas Windstorm Insurance Association, the state’s troubled insurance pool for high-risk coastal houses.
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FEMA is set to revise its recently released “advisory” flood zone maps for Staten Island, the agency has told local leaders. Many areas will change from V zones to A zones. Velocity zones in New Jersey, already incorporated into some towns’ zoning rules, may also shrink.
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The New York Times takes a look at the effort by homeowners in the Hurricane Sandy impact area to elevate their houses.
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An engineer investigating flood insurance claims sheds light on the mechanisms of damage.