John Elbl

After a decade-long drought of major hurricane landfalls in the U.S., 2017 has certainly captured the attention of insurers. Together, Hurricanes Harvey, Irma, and Maria present a rare opportunity for insurance carriers.

Right now in the United States, less than 25% of homes in FEMA Flood Zones A or V have flood insurance, and the vast majority of the policies that do exist are written by the National Flood Insurance Program (NFIP), which is currently USD 23 billion in debt.

We are having a fabulous Fall here in Boston, and that means chilly mornings, shorter days, spectacular foliage, apple cider, and pumpkin pies. It also means insurers are busy planning next year's anticipated growth.

The U.S. National Flood Insurance Program (NFIP) has undergone many changes and improvements in recent years, starting with the Biggert-Waters Reform Act of 2012. Some of the most notable changes include revising existing rates and updating mapping information, which changed flood classifications for some policyholders.