National Flood Insurance Program

News & Analysis as of

Louisiana Court Finds in Favor of Flood Insurer Where Insured Submitted an Incomplete Proof of Loss

Roussell v. Allstate Insurance Company, 2014 U.S. Dist. LEXIS 82319 (E.D. La. June 17, 2014) involved a dispute over insurance coverage related to the damage caused to the plaintiff’s property by Hurricane Isaac on August 29,...more

Agencies Issue Statement on Increased Maximum Flood Insurance Coverage for Other Residential Buildings

The Office of the Comptroller of the Currency, the Board of Governors of the Federal Reserve System, the Farm Credit Administration, the National Credit Union Administration, and the Federal Deposit Insurance Corporation...more

Federal Banking Agencies Issue Guidance on Flood Insurance Requirements for Existing Loans Secured by Multi-Family Residential...

As we have previously advised, the maximum amount of flood insurance available under the National Flood Insurance Program (“NFIP”) for multi-family residential buildings with five or more units will increase from $250,000 to...more

Eastern District of New York Adopts “Express Train” Discovery Schedule to Ensure Expeditious Resolution of Sandy-related Coverage...

Like many New Yorkers, the U.S. District Court for the Eastern District of New York (EDNY) has had a difficult time dealing with the aftermath of Superstorm Sandy. In response to the hundreds of lawsuits that have flooded its...more

Insurance Recovery Law -- Dec 11, 2013

FEMA Clarifies Time Extension for Victims of Sandy - Why it matters: Given the unprecedented meteorological event known colloquially as “Superstorm Sandy,” the Federal Emergency Management Agency granted multiple...more

Yet More on the Adaptation Front: Where You Stand Depends on Whether Your Property Is Underwater

A story in E&E Daily on October 30 highlighted the difficult choices – including political choices – that are going to have to be faced in the process of adapting to climate change. The story noted that a number of...more

Federal Agencies Propose New Federal Flood Insurance Regulations

The Federal Deposit Insurance Corporation recently approved for release joint proposed regulations to implement provisions of the Biggert-Waters Flood Insurance Reform Act of 2012 (the Act). The proposal would amend the Flood...more

First Circuit Rules Constitution's Appropriations Clause Quashes Flood Policy Claim Lacking Proof-Of-Loss

You know it is not going well when the court cites the Constitution at you in a breach of contract case. But so it went in DeCosta v. Allstate Insurance Co., where the First Circuit last Friday reversed the trial court and...more

A Call for Forward-looking Disaster Risk Evaluation and Greater Private Sector Involvement amid Surveys, Estimates and Statistics

In recent years, Mother Nature has taken a toll on the insurance industry. Superstorm Sandy cost the United States approximately $70 billion in direct damages to business owners and homeowners in the storm’s path and lost...more

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