Category Archives: Property Insurance
FEMA approves additional $10.3 million for Panama City
Source: Panama City News Herald Panama City is set to receive about $10.3 million in additional FEMA funds for reimbursement of debris removal costs following Hurricane Michael. According to a press release from FEMA, between Oct. 10, 2018 and Nov. 24, 2018, workers removed more than 1.2 million cubic yards of debris from public rights of… Read More »
Hurricane Michael: $1 Billion for Community Recovery Funds
It’s been almost a year and a half since Hurricane Michael took its toll on Florida’s Panhandle, and unfortunately, communities are still dealing with its effects- however, there has been some recent good news for those affected residents. Governor Ron DeSantis announced that there would be $1 billion in aid that will go towards… Read More »
FEMA Releases New Floodplain Maps
FEMA has released new flood maps that has left homeowners with mixed emotions. Some have learned that their homes have gained elevation, while others are feeling uneasy after discovering they have lost it. Bay side homes seem to have gotten better news, while ocean side homes are dealing with updates that are not ideal…. Read More »
Florida Insurers Face Rating Downgrades
The Florida-based home insurance companies are at it again. In a recent Insurance Journal article on the health of the state’s insurance market, more than a third of the domestic insurers are in danger of receiving rating downgrades. They are blaming the continuing claims from the storms of the past few years and skyrocketing… Read More »
Insurers Pay $4.1M in Claims During Recent Hurricane Michael Claims Villages
Source: Insurance Journal Claims villages hosted by the Florida Department of Financial Services since August 2019 have led to the resolution of $4.1 million in insurance claims for nearly 750 residents impacted by Hurricane Michael, according to a statement from DFS. In total, DFS has has hosted seven Hurricane Michael Insurance Villages since the… Read More »
State expects to dole out all Hurricane Michael Recovery Grants by year’s end
Source: www.floridapolitics.comBy: Staff Reports State emergency management officials expect to dole out the entirety of the $25 million Hurricane Michael Recovery Grant Program by the end of the year, expediting rebuilding efforts in the Panhandle. The program, the first of its kind, was created last Session to advance local governments’ recovery projects. The bill… Read More »
Homeowner’s Insurance: What May or May Not Be Covered After a Storm
Wondering about some specifics in regards to homeowner’s insurance and what it covers? It can be a fine line between what is covered and what is not. If trees are ripped out of the ground and other debris is flying around during a storm, there are various factors that affect whether or not insurance… Read More »
Hurricane Dorian Insurance Claims Rise in Atlantic Canada
The insurance claims from damages from Hurricane Dorian have officially reached approximately $105 million in Atlantic Canada, and that is not including the damage to government infrastructure. The Insurance Bureau of Canada has recently released this information. Dorian went from being a hurricane to a tropical storm by the time it hit the Maritimes,… Read More »
What Every Small Business Owner Should Know to Prepare for Potential Disasters
Being prepared for any disaster that may arise is vital for every business owner, no matter how big or small their business may be. One thing to keep in mind is communication post-disaster. It is important to have the ability to talk to others once the storm has passed but its’ remnants remain. This… Read More »
Insurance Lobbyists Hope for Mandatory Flood Disclosure
Insurance lobbyists are currently urging for mandatory disclosure of flooding to be adopted in the state and national levels due to outdated FEMA flood maps causing homeowners to have risk of uninsured damages and more risks of flooding in general. There is the possibility of this becoming a reality with the National Flood Insurance… Read More »
