What is the National Flood Insurance Program’s CRS?

The Community Rating System (CRS) is a voluntary incentive program that encourages communities (counties) to go above and beyond the minimum National Flood Insurance Program requirements for floodplain development and activities. Participation in the CRS is rewarded with flood insurance discounts for it’s policy holders.  There are 10 CRS classes with class 10 being non... Continue Reading →

National Flood Insurance Program: Re-authorization UPDATE 2019

Congress must periodically renew the National Flood Insurance Program’s statutory authority to operate. On December 21, 2018, the President signed legislation passed by Congress that extends the National Flood Insurance Program’s (NFIP’s) authorization to May 31, 2019. NFIP re-authorization is an opportunity for Congress to take bold steps to reduce the complexity of the program... Continue Reading →

Insurance against Extreme Events: Pairing Short-Term Incentives with Long-Term Strategies

Why do insurance companies classify certain types of risk as uninsurable? And why do insurance regulators prohibit insurers from setting premiums that reflect risk, particularly in locales that repeatedly suffer losses from natural disasters? The short answer is that insurance today is misunderstood and hence is not effectively meeting its most important objectives—to inform those... Continue Reading →

Do you live in a “Flood Zone”?

The answer is “YES”. Every property in Hawaii has a flood zone designation. It may not be in a high-risk flood zone (A or V zones) that would require mandatory flood insurance purchase as a condition of a federally regulated loan, but it doesn’t mean that flooding is not possible. In fact, 20% flood insurance... Continue Reading →

Is your home required to have flood insurance FOREVER?

Oftentimes a potential buyer is looking for that certain something special when shopping for a new home or investment property. As a buyer, it is important to fully understand the financial obligation of such a huge commitment. Sometimes that commitment includes a buyer’s acceptance of the property’s increased risk from certain naturaldisasters such as being... Continue Reading →

Flood Preparation & Safety

Flood can happen anytime and anywhere. And they can happen fast. So whether you live near the water or not, you should always be ready.  BE PREPARED BEFORE THE FLOOD Copy your most important documents (mortgage papers, deed, passport, bank information.) Keep copies in your home and store originals in a secure place outside the... Continue Reading →

Locking in peace of mind

It's Monday and that means our weekly "Good to Know" article. It doesn't matter, if it's hurricane season or rainy season, it is always good to be prepared and to have that peace of mind, when it comes to having your home safe and secure against any potential natural phenomenon. Each year, it seems, we... Continue Reading →

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