Flood insurance

Properties outside of the 100-year flood zone exposed to $375 billion to $1 trillion in losses, Moodys reports

The findings come as climate and weather risk is increasingly becoming part of the affordability equation for many homeowners, particularly as insurance and maintenance costs rise in vulnerable regions.

The research shows that two-thirds of the buildings identified are in some of England's most economically vulnerable corners.

Modern flood modeling has identified more than twice as many properties at flood risk than FEMA flood maps, according to new research.

Satellite data is reshaping the way that the insurance industry thinks about risk.

Lagos, Nigeria's commercial hub, has secured a $7.5 million flood insurance policy so some of its poorest residents can access relief when disaster strikes.

Insurers in Australia are urging legislators to set up a A$30 billion ($21.4 billion) flood defense fund as the nation grapples with surging costs from extreme weather events.

Flood Re, a state-backed insurance program, now plans to "layer up" on cat bonds, said Chief Executive Officer Perry Thomas.

The letter claims the flood insurance premium pricing change has made the product unaffordable, resulting in a large drop off in the number of policies.

Jonathan Jackson, CEO of Previsico, shared insights into the company.

Fathom, acquired by Swiss Re in December 2023, provides flood hazard and terrain datasets that capture extreme outcomes.

A paper published Tuesday in the Journal of Catastrophe Risk and Resilience estimates that Risk Rating 2.0, FEMA's 2021 update, resulted in up to 13% of those facing the highest premium increases dropping their policies.

In a world assailed by extreme weather, homeowners and purchasers need to know their property's vulnerability to wildfire or flooding. Ratings like those Zillow took down are a big improvement on often outdated federal flood maps and state wildfire maps. 

Devastating floods have killed more than 1,300 people and caused at least $20 billion in losses since late last month across parts of South and Southeast Asia.

Flood Quotes and the Flood Insurance Portal allows users to compare quotes and purchase policies directly through the platforms.

The average premium increase is 64% or $600 a year more, and in some states the rate would go up by more than $1,000, the comparison shopping platform found.

Congressmen introduced the Retroactive Renewal and Reauthorization Act to the House Monday, with hopes to backdate the reauthorization of the insurance program.

The federal flood insurance program, which lapsed just before the government shutdown, mostly covered severe repetitive flood risk that the industry cannot cover.

Flood insurance company Neptune Insurance Holdings Inc.'s shareholders are seeking to raise $368.4 million.

Consumers are so concerned about rising costs that they often forego coverage altogether, according to two separate studies from Valuepenguin and Realtor.com.