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In the past five years, all 50 states have experienced some type of flooding. Flooding has led to disasters throughout the decades, and this year, it is expected to become unprecedented yet again. Despite a long history of flood-related disasters and predictions for the future, many Americans have little or no insurance coverage to protect their homes and personal property from damage caused by floods.
Climate research firm States at Risk estimates 3.5 million people in Florida are at risk for coastal flooding, yet many homeowners don’t purchase insurance coverage because of a lack of education or because they rely on antiquated mapping systems that provide a false sense of security.
According to the Insurance Information Institute, the National Flood Insurance Program (NFIP) has 1.7 million policies in Florida, more than any other state. Still, only about half of homeowners inside high-risk areas had insurance against flooding before Hurricane Irma made landfall on Sept. 10, 2017.
The Draw of the Coastline
Population growth along the U.S. coastline continues to increase steadily. The 2000 U.S. Census indicated that 48.9 percent of Americans live within 50 miles of a coast, including saltwater tributaries and the Great Lakes. Experts predict that this percentage will continue to rise. The American Community Survey (2011-2015), estimates that 26 percent of Florida residents live in the combined 100-year and 500-year flood plains as indicated by NFIP. The risk of damage from flood water is real and growing in a large percentage of the U.S. and even more so in Florida.
The risk of damage from flood water is real and growing in a large percentage of the U.S. and even more so in Florida
In addition to an increased number of residents living near water, other factors have heightened flood exposure chances
Please enjoy the full article below;
https://www.insurancejournal.com/news/southeast/2019/07/24/533723.htm
Please call Lee from Calle Financial, Your Insurance Consultant about Home Insurance, Auto, Flood, Private Flood, Car, Life Insurance & Financial Products, Business & Commercial Policies, and Group Products for business owners to give Employees benefits at no cost to them.
Floridians are on alert as the state heads into peak hurricane season after three straight years of being impacted by major storms.
Meanwhile, the Florida Panhandle continues its recovery from Hurricane Michael that devastated the region as a Category 5 last October. Residents in the area are crossing their fingers that they will be spared this year as they continue rebuilding from the largest hurricane to hit the area on record
“We are all hoping there won’t be another one this year,” said Karen Kirkland, owner of Kirkland Insurance Agency in Lynn Haven, Fla., a part of the Panhandle that was badly damaged by the massive storm that made landfall October 10 with 155-mph winds.
According to the Florida Office of Insurance Regulation, total estimated insured losses from Hurricane Michael had reached $6.6 billion as of June 28, 2019, with 84% of claims closed. The total number of claims between residential, commercial, flood and other lines was nearly 148,000 — 88,692 of which came from Bay County.
“No one is coming to tell me they had too much insurance for Hurricane Michael”
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Please call Lee from Calle Financial, Your Insurance Consultant about Home Insurance, Auto, Flood, Private Flood, Car, Life Insurance & Financial Products, Business & Commercial Policies, and Group Products for business owners to give Employees benefits at no cost to them.
A former Miami insurance agent has been arrested for allegedly stealing more than $1.7 million in insurance premiums from two insurance premium finance companies, according a statement from Florida CFO Jimmy Patronis.
Antonio Jesus Zoghbi, owner of Florida Insurance Agency of Miami, is accused of using fraudulent and stolen identities to submit fake premium finance contracts and divert policy funds into his business account.
Please enjoy the full article below;
https://www.insurancejournal.com/news/southeast/2019/07/15/532177.htm
Please call Lee from L & S Insurance, Inc. Your Insurance Consultant about Home Insurance, Auto, Flood, Private Flood, Car, Life Insurance & Financial Products, Business & Commercial Policies, and Group Products for business owners to give Employees benefits at no cost to them.
Lot’s of bills to not only see what passed, but what did not pass, what is pending, what is close & why we have to wait. Please read the full article below & be informed.
https://www.insurancejournal.com/news/southeast/2019/06/27/530569.htm
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