Property Insurance

There’s no doubt that the National Flood Insurance Program has had its share of ups and downs. Over the course of the last year, the program has expired and been extended numerous times. After its last extension, lawmakers decided that it was time to create legislation that would last for years and put an end to policyholders continuously losing their coverage.

The result was HR5114, also known as the Flood Insurance Reform Priorities Act of 2010. This bill is hopefully Congress’ last ditch effort to get the NFIP under control. To

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States that were relying on Medicaid to fund specific medical initiatives are disappointed to learn that the money won’t arrive. Also, for those who’ve gone without flood insurance, a bill has been approved continued coverage and those with home insurance in North Carolina have been granted some discounts.

Medicaid Funding Reduced Nationwide

Those without health insurance and on Medicaid may suffer in the coming months as the federal government failed to pass $24 billion in additional funding for states nationwide. In Massachusetts alone, young children will lose state funding for mental health services, welfare recipients will have employment and training programs slashed and homeless families will lose almost all of the state assistance needed to move into more permanent housing. Congre

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Last week it was revealed that according to FEMA’s new flood map, a few thousand in Southern California would be required to acquire flood insurance; however, FEMA has now announcedthat some of those residents don’t live in risky areas after all. The news comes as a relief to many residents who would have been on the hook for an additional insurance policy effective immediately.

FEMA’s New Flood Map

According to the new flood map that FEMA drew up recently, thousands in the Southern California area would said to suddenly live in flood-prone area – even those who lived no where near water.

In total, residents in over 150 cities and unincorporated areas would have to purchase flood insurance in addition to their homeowners insurance in case a flood hit the area, which could have added as much as $500 to $1,700 to their policies per year.

This did not sit well with many homeowners, some of whom decided to fight the new flood map designations.

FEMA’s Withdrawal

After FEMA decided to review its new topographic data, it decided to remove 876 parcels in the Parks Mesa Heights neighborhood.

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