BSA Claims Solutions’ Post

Less than 1% of homes across the National Flood Insurance Program’s book of business see severe and repetitive flooding but these properties account for more than 10% of NFIP claims, according to a data tool created by the Natural Resources Defense Council (NRDC). While less than 1% of NFIP policies cover homes currently categorized as severe repetitive loss properties (SRLPs), the number is growing. The NRDC reported the number of homes meeting the criteria increased nearly 20% since 2020. Jason Logue-Insurance Professional  215-392-6868 (Office) jlogue@farmersagent.com https://lnkd.in/enXfEmRU

The Federal Emergency Management Agency (FEMA) has recently revised flood maps across the Southeast, including key areas in South Florida. For properties with mortgages, this means owners will be required to purchase flood insurance. ~Miami-Dade County: Approximately 252,015 structures are now in the special hazard area, an increase of 45,420. ~Palm Beach County: About 34,154 properties are newly included in the flood zone, and increase of 5,800. ~Broward County: Nearly 89,000 parcels have shifted from low-risk to higher-risk flood zones.

🚨 Attention Broward County Agents! 🚨 FEMA is rolling out updated flood maps on July 31st, 2024, and it's a game-changer for the community. These updates mean it's crucial for your insureds to understand their current flood risk and the importance of having flood insurance. If you have clients in this area, prepare your agency, and your clients – your guidance will be invaluable. Let's ensure our community is protected and informed. Check out the new maps and gear up to assist your clients in making informed decisions about flood insurance. Stay ahead of the curve! 💼📈 #FloodInsurance #RiskManagement #BrowardCounty #FEMAUpdates #BePrepared #InsuranceAgents #BeyondFloods

Did you know? 🔹Less than 1% of homes covered by the National Flood Insurance Program (NFIP) face severe repetitive flooding, yet they account for over 10% of NFIP claims. 🔸Recent data signals a 20% increase in such homes since 2020. 🔹Around 20% are outside of Federal Emergency Management Agency designated flood zones Safeguard your property — explore flood insurance for peace of mind and financial security. #floodinsurance #homeprotection #riskmanagement #flood

Flooding consistently ranks among the most catastrophic and expensive weather events in the US. When a flood strikes are you prepared to properly assess the costs? 🤔 According to data from FEMA's National Flood Insurance Program (NFIP), just one inch of flood water can cause $25,000 in damages. Between 2016 and 2022, the average flood claim payout by NFIP was $66,000. Dealing with flood damage is virtually unavoidable and 90% of natural disasters in the US involve flooding. 🌧️ When you find yourself drowning in flood-related claims, TechLoss is here to save the day. Our seasoned engineers are experts at assessing flood damage. We can help you verify the damage, determine the costs, and coordinate a solution that will benefit all parties involved. 👍 Get in touch today to submit a claim. 877-832-4567 (877-TechLoss) #flood #waterdamage #insurance

Navigate the waters of flood insurance! Even if you’re not in a high-risk zone, 26% of flood claims come from moderate to low-risk areas. Be proactive, not reactive and read our recent blog written by Jim Black and Sainabou Faal to learn why everyone should have flood insurance. https://bit.ly/3Wj90m4 #PowerThroughPartnership #PropertyProtection #BePrepared #FloodInsurance

Maximizing Savings on FHA Loan and Flood Insurance with Expert Tips Discover how to save money on flood insurance for your FHA loan. Learn the key differences between regular and special flood insurance, and find out how our expert, Tyler, can help you navigate this often confusing topic. Don't pay more than you need to for flood coverage - contact us today! #FHALoanTips #FloodInsuranceSavings #ExpertAdvice #SavingsOnInsurance #MortgageTips #InsuranceCoverage #FHAInsurance #FloodInsuranceExplained #MoneySavingTips #InsuranceSolutions

Senior Planner, Devin A. Foil, AICP, CFM, speaks on LA flood insurance crisis in The Times-Picayune | Nola.com "I urge the consideration of land use planning and comprehensive master planning as powerful tools in addressing our state's homeowners insurance crisis. "Louisiana's challenges with flooding require an integrated strategy. Combining robust land use policies with existing infrastructure is crucial. "Many Louisiana communities lack up-to-date comprehensive master plans, leading to a cycle of development and destruction in high-risk areas. "This gap can be addressed through state intervention: mandated comprehensive planning, funding and technical support, and the incentivization of resilient land use policies." Read in full https://lnkd.in/g6nPsJ4J

Is your business prepared to handle a major flood event? 70 billion dollars of flood insurance claims have been made in the U.S. the last twenty years.    Founder and Vice President Kathryn Prociv explains how our MonarchView solutions can provide critical information for your business in the near and long term. Mitigate risk from extreme weather events. #ConsultMonarch 🌐  

How can I protect my property or business from flooding? 🌧️ Flooding can strike unexpectedly, wreaking havoc on properties and businesses. It is estimated that in the UK over 5 million properties are at risk of flooding, making it a critical concern for residents and business owners. To safeguard your property and business, it's essential to understand the risks, be prepared, and know what to do in the event of a flood. At Sutcliffe & Co Insurance Broker we are highly experienced in flood insurance and we can guide you through a flood risk assessment, preparation, and recovery, ensuring you can weather the storm with resilience. Read our blog which also features a downloadable flood toolkit> https://lnkd.in/etbBiZZf #flooding #floodrisk #stormflooding #floodtoolkit #flooddamage #floodinsurance #floodclaim #floodpolicy #insurance #insurancenews #insurancebrokers