(See Private flood insurance below.) In June 2014 Florida enacted a law that encourages private companies to offer flood insurance. In 2019, federal regulators announced a rule requiring regulated lending institutions to accept private flood insurance policies comparable to the National Flood Insurance Program.A Triple-I Blog post explains how the new rating methodology will make the system fairer.
According to FEMA more than 200,000 policies will have significant increases in premiums, while about 1.15 million will have decreases. On April 1, 2021, the Federal Emergency Management Agency ( FEMA) announced it will implement a new rating methodology designed to provide actuarially sound rates that are equitable and easy to understand.Coverage is available in a separate policy from the National Flood Insurance Program (NFIP) and from many private insurers. There is no coverage for flooding in standard homeowners or renters policies or in most commercial property insurance policies. According to the National Flood Insurance Program (NFIP), 90 percent of all natural disasters in the United States involve flooding. Flooding is the most common and costly natural disaster in the United States, causing billions in economic losses each year.
0 kommentar(er)
