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Flood Insurance Program Extended to Dec. 3

​<a title="Michael M Stokes, CC BY 2.0 , via Wikimedia Commons" href="https://commons.wikimedia.org/wiki/File:Ida_Flooding_%2824%29.jpg"> ​Congress yesterday approved an emergency measure to keep the National Flood Insurance Program (NFIP) from shutting down. Those of you who write flood insurance policies through the Big "I"'s Flood Program should be able to continue to do so at least until Dec. 3. ​The program, which Congress authorizes on a temporary basis, was scheduled to run out of authority on Sept. 30, 2021. The NFIP's extension was included in a larger bill to fund the federal government, which also would have shut down in the absence of congressional action. President Biden signed it into law…

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Industry Roundup: Insurance Industry Calls for NFIP Extension, Risk Rating 2.0 Delay; Cost of Insuring Expensive Waterfront Homes is About to Skyrocket; Reinsurers Could Be Underestimating Nat Cat Exposure by 33-50%

​Appetite for Flood Risk Among Private Insurers Still SmallThe U.S flood insurance market is slowly transitioning toward private insurers playing a much needed and more prominent role by providing additional competitive market options for those seeking coverage, according to a new AM Best report.Reinsurers Could Be Underestimating Nat Cat Exposure by 33-50%Analysts at S&P Global Ratings believe that reinsurers could be underestimating their exposure to natural catastrophe risks by between 33% and 50%, despite recent efforts to better incorporate climate change considerations into their business models.Staying Innovative and Agile Post-PandemicLeveraging the right technology such as video conferencing and enhancing risk management platforms, has helped both…

Continue ReadingIndustry Roundup: Insurance Industry Calls for NFIP Extension, Risk Rating 2.0 Delay; Cost of Insuring Expensive Waterfront Homes is About to Skyrocket; Reinsurers Could Be Underestimating Nat Cat Exposure by 33-50%

That’s How Sue Sees It: Banned Books Week

By Sue Keegan, AIC, MBA, Learning & Development Manager​​Banned Books Week kicked off this past Sunday and runs through Saturday, 10/02/2021.  I look at this week as a sort of way to celebrate the freedom to read.  So I did a little research to try to find out the first banned book in the United States and it appears that title goes to New English Canaan written by Thomas Morton.  Here’s a link if you would like to learn a bit more.  To celebrate Banned Books Week, I chose three banned books to read in the month of September.  My choices are Speak, by Laurie Halse Anderson, Extremely…

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