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Electric utilities in New York face a mounting list of property owners blaming them for the catastrophic overnight fires that consumed hundreds of houses during the Hurricane Sandy floods.
They haven’t changed the law yet. But Senators and Congressmen are urging FEMA to hold off on punishing flood insurance rate increases.
Some homeowners with foundations damaged by Sandy flooding are finding they can’t collect on their flood insurance policies.
The high-exposure “V Zone” on the Jersey shore is smaller than previously estimated, federal officials have announced.
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.
Texas Windstorm Insurance Reform Bill Fails, But Could Be Revived
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.
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.
Increased premiums included in last year’s flood insurance reform package are starting to make waves in coastal states.
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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