Lisa Miller

April 1 marked the rollout of the National Flood Insurance Program’s (NFIP) new rate changes, and as a former deputy insurance commissioner in Florida, it is welcomed news not only for those residing along Florida’s miles and miles of coastline but also those living inland in areas prone to flooding.

Greater clarity came this week from the National Association of Insurance Commissioners (NAIC) via Florida Commissioner David Altmaier: Florida has 8% of all homeowners’ claims in the U.S., yet 76% of all homeowners’ claims lawsuits. Boom.

As hurricane season heats up, a growing number of properties located outside of FEMA-designated high-risk flood zones are already flooding. The problem is especially bad in the urban areas of America’s cities. A national survey shows nearly 85% report experiencing urban flooding. Insurance claims are on the rise, too.

Florida has seen a trend in the past decade of rising sea levels along its coastlines. It’s been causing high-tide flooding in a few areas, which is growing in severity, according to a new report from the National Oceanic and Atmospheric Administration (NOAA). This is so called “sunny day flooding” when the high tides spill into streets or rise up from storm drains.

A new Federal Emergency Management Agency report is shocking: 71 percent of Texas homes in high-risk flood zones are not covered by flood insurance. Another report reveals 31 percent of Texas properties should be listed in high-risk zones — but are not.

With Congress once again kicking the can down the road on needed reforms to the National Flood Insurance Program (NFIP) until its next expiration on November 30, the time is ripe for the private insurance market to step up and play a greater role in providing Americans needed flood coverage.

Last month, the National Conference of Insurance Legislators (NCOIL), a group of state lawmakers from around the nation, began taking a closer look at Florida’s model flood insurance regulation to see if it can be used successfully to encourage a vibrant private market in all 50 states.

While Congress works on various reforms to the National Flood Insurance Program (NFIP), the time is ripe for the private insurance market to step up and play a greater role in providing Americans needed flood coverage.

The agent appointment process is not as simple as some think. Insurers that are not careful could find they are in legal trouble. As in so many other areas of insurer operations, due diligence is required in the handling of agency appointments and agent licensing verification. Agents also have a responsibility under Florida law to make sure the carriers they represent are authorized.

The 2011 legislative session was, according to seasoned insurance industry professionals, the most active in the past 30 years—especially in the property insurance arena. Bills dealing with sinkhole reform, replacement cost reform, and Citizens Property Insurance Corp. were at the top of the to-do list for committees overseeing the insurance statutes. Though the problems and appropriate solutions seemed clear to the industry, lobbying groups representing other interests (primarily public… Show more

The 2011 legislative session was, according to seasoned insurance industry professionals, the most active in the past 30 years—especially in the property insurance arena. Bills dealing with sinkhole reform, replacement cost reform, and Citizens Property Insurance Corp. were at the top of the to-do list for committees overseeing the insurance statutes. Though the problems and appropriate solutions seemed clear to the industry, lobbying groups representing other interests (primarily public adjusters and their trial lawyers) did their best to undermine efforts to stabilize the market. Despite their actions, some positive changes were made. Show less