Special to the Daily
The change to daylight saving time is also a good time for Eagle County homeowners, renters and businesses to think about flood insurance. The Eagle County Office of Emergency Management and Eagle River Fire Protection District encourage everyone to review their insurance needs before snow melt and spring rains bring the potential for flooding. Spring runoff in Eagle County typically peaks between mid-May and mid-June; however, flood conditions can occur at any time with sustained warm temperatures.
Floods can happen anytime, anywhere and without warning. What most people don’t know is that the damage from a flood is not covered under a standard homeowners’ insurance policy. A standard policy also does not cover mud flows; which are rivers of liquid and flowing mud. Flooding and mudflows can develop when water saturates the ground, such as from rapid snowmelt or heavy or long periods of rainfall. Even if you do not live near the water, flood insurance is a
PHILADELPHIA — After a season that produced a record number of tropical storms — including several that devastated the Gulf Coast — the Atlantic Basin might be in for another
Reps. Pallone, Pascrell Applaud Affordability Provisions in Draft National Flood Insurance Reauthorization
Targeted News Service
April 9, 2021 with Rep.
Bill Pascrell, D-
Bill Pascrell (NJ-09) today issued the following statement on Chairwoman
Maxine Waters s draft National Flood Insurance Program reauthorization. The proposal adopts the same cap on premium rate increases that Pallone and Pascrell included in their bipartisan flood insurance legislation last
Congress. When it comes to our nation s flood insurance policies, no one has worked harder than our friend and colleague Chairwoman
Maxine Waters. We are deeply grateful that she incorporated a major component of our bill to include the nine percent cap on premium rate increases, marking a significant step toward our shared goal of an affordable and stable National Flood Insurance Program.
Last week, President Joe Biden unveiled a $2 trillion infrastructure plan that, if passed by Congress, would protect the U.S. from climate change and prepare its economy for a transition to clean energy. The plan has a little something for just about everyone out-of-work fossil fuel workers, public housing advocates, lovers of research and development but it almost entirely avoids mentioning a looming crisis. Biden’s plan barely mentions managed retreat, a term that refers to the coordinated movement of communities away from coastlines and other vulnerable areas as sea levels rise and climate disasters worsen. The White House infrastructure plan included just one sentence about it, saying the American Jobs Plan will provide “transition and relocation assistance to support community-led transitions for the most vulnerable tribal communities.”
Already facing rising insurance rates due to hurricane and severe weather impacts, Florida’s homeowners, renters and businesses are now set to shoulder steep increases in flood insurance costs.
FEMA released what it calls a “21st century rating system,” which is named Risk Rating 2.0 Equity in Action, and is designed to provide actuarially sound flood insurance rates that should be more equitable, while also being easier for policyholders to understand.
FEMA says the new flood insurance rating rubric will transforms its pricing methodology that has not been updated in 50 years, thanks to the use of improved technology and FEMA’s enhanced understanding of flood risk.