flood

Insurance

Climate change is increasing flood risk around the country. Insurance rates are not keeping pace, report finds

6 days ago

Currently, there are nearly 4.3 million residential properties around the country with a substantial risk of financial loss due to flooding. The report defines “substantial risk” as carrying a 1% chance of flooding in any year.

Some, but not all, of those homeowners have insurance through the federal government’s National Flood Insurance Program (NFIP), which provides more than 90% of the flood insurance policies in the US.

But the report finds that those homes face losses each year which dwarf the costs of their NFIP premiums. The average NFIP premium cost today for those properties is around $981,

Insurance

FEMA flood insurance rates could spike for some, new study shows

6 days ago

With a major overhaul of the nation’s flood insurance program just months away, new data released Monday by the First Street Foundation suggests hundreds of thousands of homeowners in the riskiest locations across America could face massive rate hikes starting in October.

The Brooklyn, New York-based research group estimates the average rate needs to more than quadruple on the nation’s most flood-prone homes under the ongoing effort to make the federal flood insurance program solvent and ensure homeowners most at risk are paying their fair share.

First Street data projects that the majority of homeowners won’t see big rate changes,

Business

Rush Limbaugh dead, business and political community tributes flood in

1 week ago

FOX Business’ Neil Cavuto and Larry Kudlow remember Rush Limbaugh who died Wednesday after a battle with lung cancer.

Rush Limbaugh, the monumentally influential media icon who transformed talk radio and politics in his decades behind the microphone, helping shape the modern-day Republican Party, died Wednesday morning at the age of 70 after a battle with lung cancer, his family announced.

RUSH LIMBAUGH, CONSERVATIVE TALK RADIO PIONEER, DEAD AT 70

Most recently Limbaugh received the Presidential Medal of Freedom from former President Trump.