Category: Cheap Flood Coverage

Cheap Flood Coverage – FloodInsurer.com

Small Businesses and Insurers Agree: We Need Legislation Like Maloney’s Pandemic Risk Insurance Act

WASHINGTON, DC – At today’s Financial Services Subcommittee on Housing, Community Development and Insurance hearing, Insuring against a Pandemic: Challenges and Solutions for Policyholders and Insurers,  business owners and insurance industry experts made clear that the lack of pandemic risk insurance is a pervasive problem that requires a federal response as set forth in Congresswoman Carolyn B. Maloney’s H.R. 7011, the Pandemic Risk...

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Michigan Highlights the Importance of Flood Insurance in Latest Press Release – ILSA | Insurance Licensing Services of America, Inc.

MI | The Michigan Department of Insurance and Financial Services (DIFS) is reminding consumers that flood insurance is an important part of a household’s disaster recovery plan. “Many homeowners are unaware that standard homeowners insurance policies do not pay for flood or water damage,” said DIFS Director Anita Fox. “As we’ve seen this summer in Michigan, a disastrous flood can...

READ MORE Michigan Highlights the Importance of Flood Insurance in Latest Press Release – ILSA | Insurance Licensing Services of America, Inc.

Coronavirus claims trends

Property damage claims were not significantly impacted by Covid-19 as loss drivers such as weather are not correlated. However, as production lines restart and ramp up, this can exacerbate the risk of machinery breakdown and damage and even fire and explosion. “Restarting a factory is a stress test. We have already seen a few claims related to ramp-ups in the...

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