Wildfires change the landscape, destroying root structure and creating top soil that could repel water instead of absorbing it. Debris flows and mudflows can occur up to five years after a wildfire. Debris flows can take homes off their foundations and can carry things like vegetation, trees, large boulders and vehicles. Mudflows on the other... 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 →
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 →
Are we at the end of the line for the National Flood Insurance Program Reauthorization?
It is a question that is being asked by many experts in the field, flood insurance policy holders, federal and state employees that are directly affiliated with FEMA and NFIP. It is nothing new. Sadly, the potential for lapse has become increasingly common, with six short-term extensions of the program and two brief lapses... Continue Reading →