FEMA Brings No Calm After the Storms

by Nov 10, 2012

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Superstorm Sandy might have moved on, but it left quite a stir in its wake on the flood insurance front.

First, FEMA (Federal Emergency Management Association) through its NFIP (National Flood Insurance Program), is offering a review for policy holders who believes that they were underpaid on flood insurance claims related to Superstorm Sandy. If you fall into this category, you have 90 days to submit a request to FEMA at www.fema.gov. Once you create a file, a case manager will be assigned to your case and review your claim.

Sandy is not the only one challenging FEMA, Texas and Oklahoma have just experienced flood disasters. These disasters are heightening our awareness of the Mother Nature’s potential as media coverage increases their immediacy which in turn increases the fears of homeowners and insurance companies alike. It stands to reason that in time, all mortgaged homes will be required to carry flood insurance, even those not in a designated flood zone. Further, FEMA’s debts are increasing with each disaster. The agency is needs revenue to offset this debt and is creating it through mandated increases in homeowner policy coverage. This will yield a continuation of the 18% annual rate increases for flood policy holders, as FEMA looks for added revenue to fill the void.

If you have questions email Kyle at or call 203.698.9342.

Written by: Steve Shepard

Founder/Principal, Shepard Insurance Group. At Shepard Insurance Group we begin every relationship with a face to face meeting with the client. In a comprehensive discussion of coverage needs, personal concerns, objectives and finally appetite for risk, we can arrive at the proper insurance solution. Understanding the client is the first step to accurate execution.

November 10, 2012

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