Flood Insurance …When Politics & Reason Collide!

There’s no telling where the federal foolishness over flood insurance will end up–I predict, not with actuarial premiums; especially not for NFIP policies and especially not anytime soon.

Precipitous NFIP rate increases are courtesy of ill-advised votes by almost every member of congress, especially Democrats, none of whom voted against the rate increases. This inexplicably includes Bill Nelson, a congressional veteran  from America’s premier flood state–a lawyer and former insurance commissioner to boot, he should have known better. (See CFO Jeff Atwater’s letter to Bill Nelson).  Also, (See NOTE #1 below). [Read more…]

FLOOD REFORM–Icing on the Cake!

This post may not sit well with some of my industry friends–Write Your Own (WYO) carriers and their agents ensconced in the current National Flood Insurance Program (NFIP) approach as prescribed by federal law.

But…those taking umbrage may find comfort knowing that, like all my other good idea’s, this one will be totally ignored by anyone in a position to implement it. [Read more…]