The purpose of insurance, of course, is to provide protection from damage caused by a possible risk. In exchange for the payment of a premium, the insurance company agrees to provide certain protections that are explained and defined in the policy that is purchased. Sometimes the government requires us to purchase certain insurance—like state required [...]
According to WBRZ, the U.S. Senate has passed a four-month re-authorization of the National Flood Insurance program. The re-authorization protects more than 500,000 properties across Louisiana. The re-authorization ensures the program will run through the remainder of the 2018 hurricane season. “With this extension in place, we can tackle long-term reforms. The last time we [...]
Congress is set to reform the National Flood Insurance Program later this year. We have written before about how the NFIP has needed reform for years — it is $25 billion is debt. One of the suggested ways to fix some of the problems with the NFIP is to make it easier for private insurers […]
While we have complaints about inadequate appraisals and underpayments to our clients recovering from the Great Flood of 2016, we know that the National Flood Insurance Program is a critical component of this — and future — recoveries in Louisiana and elsewhere. It is critical that homeowners who do the right thing and pay premiums […]