Will flooding from Hurricane Irene prompt Congress to speed along the process to reauthorize the National Flood Insurance Program? That is what property and casualty trade representatives are hoping. The program is slated to expire the 30th of this month. The problem is the conflict between Congress and the Senate. The House passed a bill (HR1309) which would extend the program for 5 years and make rates sound, while the Senate has profoundly different views on how to proceed.
The Insurance Family Blog
Knowing the finer points of what constitutes flood insurance is in your best interest. As the Associated Press recently reported, the California city of Capitola was denied its claim after properties were damaged during an onslaught of two flash floods. It’s crucial to have a complete understanding of the nuances of your policy or policies.
It seems that you can't turn on the news without hearing about someone's home or business being flooded. Sometimes it is along a river where water has risen over its banks due to heavy rains but very often it is in communities that are not near rivers or other bodies of water. In Laguna Beach, CA the recent rains caused flash flooding and more than $10 million in damage to businesses, homes, and city property due to flooding.