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NFIP subsidies remain concentrated in Florida and higher-value properties
3+ day, 19+ hour ago (719+ words) In 2021, FEMA introduced Risk Rating 2.0, the National Flood Insurance Program still carries about $2.6 bn in annual premium subsidies, according to Neptune Flood Research Group. The remaining discounts are concentrated heavily among long-standing policyholders, non-primary residences and higher-value properties. FEMA introduced…...
Texas orders insurance reforms as homeowners premiums rise 79%
2+ week, 5+ day ago (549+ words) Texas Gov. Greg Abbott has ordered state insurance regulators to take immediate steps aimed at reducing costs after homeowners premiums rose sharply across Texas. The average annual homeowners insurance premium in Texas increased 79% over six years, Abbott said. He directed…...