News
Federal flood insurance carries two moral hazards " which you face depends on how wealthy you are
6+ hour, 34+ min ago (669+ words) Anyone who has been through a flood or hurricane knows the scene: waterlogged furniture piled on curbs, gutted homes with mold creeping up the walls, families displaced for months. But the recovery isn't the same for everyone. While federal flood…...
Why home insurance is unaffordable, even in places without wildfires or hurricanes
6+ mon, 2+ week ago (1310+ words) The storm blew into Cozad, Neb. , in the wee hours of Saturday, June 29, 2024. The wind felt like a hurricane. The hail was the size of softballs. "I was in the window, I was crying," remembers Soledad Avalos, who has lived…...
A Florida home insurer was allowed to bypass the courts during claim disputes. It won more than 90% of the time.
8+ mon, 2+ week ago (1778+ words) This story was originally published by Pro Publica Last October, Peter and Linda Kilfoil returned from an overnight trip and found water pooling in the kitchen of their Fort Lauderdale, Florida, home. The pair couldn't pinpoint the source of the…...
Florida leads nation in home insurance non-renewal rates
10+ mon, 1+ week ago (572+ words) New data analysis found Florida leads in home insurance non-renewals. The information comes from Insurify, an insurance comparison website, reporting that homeowners policy non-renewals rates in the state almost tripled in five years " with numbers spiking 280% from 2018 to 2023, the steepest…...
Sen. Rick Scott, Sen. Ashley Moody try to give homeowners a financial break on flood insurance
10+ mon, 2+ week ago (428+ words) Florida Republican senators Rick Scott and Ashley Moody are trying to give homeowners nationwide a financial break on flood insurance. The two lawmakers jointly reintroduced the Flood Insurance Relief Act on Thursday to give Americans a non-refundable tax deduction on…...
Flood risk is widespread in the U. S. Few people have insurance for it
10+ mon, 2+ week ago (598+ words) Nearly every county in the United States has experienced flooding in the past few decades, but just 4% of homeowners nationwide have flood insurance, according to the Federal Emergency Management Agency. It's what experts call the flood insurance gap. Most homeowners…...
Who is in charge of "Alligator Alcatraz? Property insurance reforms and weekly news briefing
10+ mon, 3+ week ago (323+ words) Who is in charge of "Alligator Alcatraz?" Florida has taken a lead role among states in passing laws and taking actions to support President Donald Trumps immigration enforcement goals. That includes a newly built migrant detention center in the Everglades....
Florida's home insurance crisis hits hardest in some of the state's poorest counties
10+ mon, 3+ week ago (1183+ words) Steve Cates was walking back to his house from his mailbox, flipping through a clutch of newly delivered letters, when one envelope stopped him in his driveway. It was from his insurance company. Now, standing in his driveway, staring at…...
Citizens policies increase after steep drop
11+ mon, 3+ hour ago (154+ words) When it comes to policy counts with Florida's property insurance company of last resort " the rollercoaster ride continues. After a steep drop the previous week, the number of policies in the Citizens Property Insurance Corporation increased slightly last week. Citizens…...