News & Analysis as of

Flood Insurance

Potential Remedy for Addicks & Barker Reservoir Release Victims

by Strasburger & Price, LLP on

On August 25, 2017, Hurricane Harvey made landfall as a Category 4 hurricane, settling in the lower Texas gulf coast and inundating southeast Texas with almost 50 inches of water over a four-day period. The storm caused...more

Federal Reserve Board Announces Penalty Against State Bank for Alleged Violation of the National Flood Insurance Act

by Goodwin on

?On September 14, the Board of Governors of the Federal Reserve System announced the execution of a settlement with a state bank concerning alleged violations of the National Flood Insurance Act (“NFIA”), 42 U.S.C. §...more

Podcast Episode 8 – When the Government Decides to Flood Your Property, Is There a Claim? With Derrick Carson of Locke Lord LLP,...

by Locke Lord LLP on

Locke Lord LLP’s Eminent Domain team hosts an original podcast series. Derrick Carson, Partner in Locke Lord's Houston office, joins us in Episode 8 to discuss Hurricane Harvey, the flooding in Houston and southeast...more

Rebuilding After Hurricanes Harvey and Irma: Recovery Through Tax Deductions

by Bowditch & Dewey on

It is estimated that less than 20% of those affected by Hurricane Harvey, and a week later Hurricane Irma, had flood insurance. Home owner’s and renter’s insurance policies exclude damage caused by floods. Those affected...more

US: Temporary Extension of the NFIP in wake of Hurricane Harvey

by Hogan Lovells on

On September 8th, just days after Hurricane Harvey decimated the Houston metropolitan area, and while many Florida residents were evacuating as Hurricane Irma approached, President Trump signed into law the Continuing...more

Senate Passes Bill Proposing Three Month NFIP Extension

by Locke Lord LLP on

On Friday, September 7th, the Senate passed a bill increasing the disaster aid within the National Flood Insurance Program (the “NFIP”) to $15 billion. The NFIP was initially established in 1968 to provide flood coverage to...more

Flood and Wind Insurance in Hurricanes Harvey and Irma

by Locke Lord LLP on

In the wake of the destruction caused by Hurricane Harvey in Texas and with the approach of Hurricane Irma to Florida, many homeowners and businesses will be contacting their insurers with flood and wind insurance claims....more

Texas Department of Insurance Issues Additional Bulletins Relating to Hurricane Harvey

Last week, we wrote a post about a number of bulletins of potential interest to property insurers issued by the Texas Department of Insurance concerning the appropriate conduct of those involved in the insurance claims...more

Reed Smith Hurricane Harvey Disaster Relief Resources Guide

by Reed Smith on

As individuals and businesses begin the difficult clean-up and rebuilding process in the aftermath of Hurricane Harvey, many companies are asking what they can do to assist their impacted employees. In many instances,...more

Will the National Flood Insurance Program (NFIP) be reauthorized, extended, or what?

by Downey Brand LLP on

The National Flood Insurance Program (NFIP) will expire at the end of the month. For anyone that has read the newspaper lately, this is a lousy time for the program to expire with two hurricane’s bearing down on the Eastern...more

Important Lessons from Adjusting Hurricane Claims

The number of claims arising from a significant wind event such as Hurricane Irma can create intense time pressure on insurers and their adjusters. The insurer must promptly acknowledge each claim and make prompt inspection....more

Harvey Shining Limelight on Business Interruption Insurance Industry

by Locke Lord LLP on

As victims of Hurricane Harvey try to assess their (often catastrophic) damages, many business owners are finding that their traditional coverages do not adequately cover the scope of their losses. The National Flood...more

Hurricane Irma: Maximizing Insurance Recoveries

Hurricane Irma’s epic scope and wind speed suggest that affected businesses and other organizations take immediate and proactive steps to maximize insurance recovery....more

Hurricane Harvey Recovery Tips for Maximizing Coverage

San Francisco Darren Teshima, Co-Leader of Orrick's Complex Litigation and Dispute Resolution practice, litigates high stakes disputes on behalf of clients in the financial and technology sectors and advises corporate...more

Privacy Tip #104 – Scammers Prey on Hurricane Victims

It has been so difficult to watch the news reports of the devastation and havoc left in the wake of Hurricane Harvey, and now anticipated this weekend by Hurricane Irma, which is being reported as the most powerful storm to...more

Sink or Swim – District Court Approves Removing Flood Insurance Claims to Federal Court

by Nexsen Pruet, PLLC on

As hurricane season swings into full measure, the flooding of Hurricane Harvey has ravaged Texas, and Irma’s path remains uncertain, it is time to revisit the law of flood insurance....more

Uncertainty Surrounds New Texas Insurance Law: Divergent Views Emerge on the Impact of the Texas “Hail Storm Bill” on Hurricane...

by Locke Lord LLP on

As we reported in May, the Texas Legislature recently passed legislation which amends Chapter 542 of the Texas Insurance Code—Texas’s general prompt pay statute for insurance claims. Most of the new law’s provisions are...more

Hurricane Harvey Reshuffles the Deck for this Fall

by Baker Donelson on

Strong bipartisan support exists to respond to devastation caused by Hurricane Harvey, though funding levels and the form of such relief takes are still uncertain. Initial estimates (which are expected to rise) now place the...more

Hurricane Harvey: Immediate Considerations for Impacted Public and Non-Profit Entities

by Baker Donelson on

At this time, immediate lifesaving response activities have priority. As soon as they are able, impacted public and non-profit entities must consider the available resources to help defray costs, including insurance and...more

Hurricane Harvey: Insurance Implications [Updated]

Hurricane Harvey and its associated rainfall have simply devastated much of southeastern Texas. Many areas were left inaccessible, or without water or power services. Evacuation and curfew orders limited travel and...more

Maximizing Insurance Recoveries for Hurricane Harvey Losses

by Jones Day on

With Hurricane Harvey having pummeled much of the Texas Gulf Coast, businesses will soon look to secure insurance recoveries for the estimated billions of dollars in property damage and business income losses left in its...more

NAIC Report: 2017 Summer National Meeting

The National Association of Insurance Commissioners (NAIC) met in Philadelphia, Pennsylvania for the 2017 Summer National Meeting from August 5-9. Commissioners, staff and interested parties alike converged in Philadelphia...more

HB 1774’s “Hail Bill” and Hurricane Harvey-Time for Action

• Action Item #1: Insureds should try to report claims for all property damage, including those caused by Hurricane Harvey, by no later than August 31, 2017, in order to avail themselves of the opportunity for an 18 percent...more

Important Insurance Coverage Considerations for Losses Caused by Hurricane Harvey

by K&L Gates LLP on

While the full extent of damages caused by Hurricane Harvey is unknown at present, the storm has already caused unprecedented damage in Texas. That damage arises in the midst of pending legislative change that may affect...more

Hurricane Harvey: Helpful Insurance Information and FAQs

by Jackson Walker on

Our hearts and thoughts go out to all of our employees, clients, and friends affected by Hurricane Harvey and the devastation caused by the storm. Your personal safety, and that of your family and loved ones, is our top...more

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