Tag Archives: Flood insurance

Be careful when using statistics

Imagine that you are sitting down with a current or prospective customer talking about the issue of flood insurance. As you are discussing the coverage, it is conceivable that the customer may ask the following question: “what are the chances … Continue reading

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A Refresher on the Named Storm Deductible

Unfortunately, at the time of a loss (especially a catastrophe), there may be customers that didn’t truly understand how the deductible applies on their insurance coverage. In the following article, published on claimsjournal.com on January 17th, Denise Johnson points out … Continue reading

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Over 20% of U.S. Properties at Risk for Flood Not in Designated Flood Zones

This past year, there is no doubt that catastrophes played a major role in the increase in E&O claims. After all, “nothing brings out an agent’s mistake as quick as a catastrophe”. In many of the E&O claims made as … Continue reading

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Don’t bet against Mother Nature

I was recently reading the November issue of Best’s Review, specifically the article on the recent flooding in South Carolina. One of the things that really caught my attention in this excellent article was that the rainfall that caused this … Continue reading

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Flood Insurance Does Not Cover Debris Removal From Insureds’ Land

When floods occur, there is certainly the potential for coverage issues to come into play. As noted in the attached interesting article that appeared on insurancejournal.com on May 13, the question of coverage for the removal of sand was an issue. This … Continue reading

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What Agents Should Know About Flood Insurance Changes in Effect April 1

The following is an excerpt of an article that appeared on insurancejournal.com on April 1 regarding changes in the flood program. “Starting today, when flood insurance policyholders go to renew their policies, they could be quoted premium increases ranging from … Continue reading

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High-Tide Floods to Triple for Some East Coast Cities, Study Finds

The following is an excerpt from a very interesting article that appeared on insurancejournal.com on October 8. “Flooding during high tides, which used to be rare, is now common in some places and could worsen to the point that sections of … Continue reading

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Flood Insurance – potentially a great sales opportunity for your insurance agency

It appears that just about every time there is a flood, there is corresponding news revealing how few of the affected homes and businesses actually had flood insurance. With the recent tsunami in Japan, reports indicated that only approximately 40% … Continue reading

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