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30,000+ Without Required Federal Flood Insurance

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Plus hurricane conference news

There’s some startling statistics out of the recent National Hurricane Conference in Orlando; tens of thousands of homeowners required to have flood insurance don’t; and new enhanced pre-disaster mitigation funding is moving through Congress. Plus, FEMA’s $405M for emergency managers.  It’s all in this week’s Flood Digest.

FEMA Administrator Deanne Criswell (center) and National Hurricane Center Director Ken Graham at the National Hurricane Conference. Courtesy, FEMA & Alex Hall

National Hurricane Conference: With the pandemic waning and weather catastrophes upper mind, it’s no surprise that this year’s conference saw record attendance.  National Hurricane Center Director Ken Graham delivered an eye-opener: “We have had more Cat 4 and Cat 5 landfalls in the United States from 2017 to 2021 than we did from 1963 to 2016.”  FEMA Director Deanne Criswell followed-up, adding that today’s hurricanes “are stronger, lasting longer, and at higher durations over land,” pointing to last summer’s Hurricane Ida, with “unheard of” Cat 4 winds and rain for four hours over land, leaving damage from Louisiana all the way to New York.  Criswell said that 65% of counties, cities and towns still have not adopted modern building codes.  Those that do, she said, will avoid paying $132 billion in storm damages by the year 2040. 

With hurricane season just 36 days away, I’m happy to share my “Lisa’s Lucky 7 Hurricane Season Prep” checklist for you to click, share, and link to for your family, friends, and clients.

No Flood Coverage: For years, some of us in the insurance and mitigation community have been asking whether anyone is checking just how many federally-backed home mortgages are out there without the required flood insurance.  A new report from HUD’s inspector general is helping answer that question.  It shows that the Federal Housing Administration (FHA) provides taxpayer-backed mortgages to 8.2 million homes in the U.S. with almost 200,000 of those properties in high risk flood zones.  Those homes are supposed to have insurance through the National Flood Insurance Program (NFIP).  The report’s sampling reveals at least 31,500 did not in 2020 – they either had no or inadequate NFIP insurance or had private insurance instead.  The value of those mortgages totaled $4.5 billion.  The report recommends the FHA develop a control system to monitor compliance. 

Click Image for Printable Version

More Mitigation Please: The U.S. House of Representatives recently passed two bills designed to beef-up pre-disaster mitigation and post-disaster recovery.  The Resilient America Act (HR 5689) would allow more mitigation projects by increasing funding of FEMA’s Building Resilient Infrastructure and Communities (BRIC) program from the current 6% to 15%.  At least 10% of BRIC grant money would be required to go to projects that address non-compliance with building codes.  The bill also creates a pilot program for residential resilience retrofit block grants to states, tribes, and territories.

The House also passed the Small Project Efficient and Effective Disaster (SPEED) Recovery Act (HR 5641).  It would increase threshold eligibility to $1 million to qualify more small projects under the Stafford Disaster Relief and Emergency Assistance Act under simplified FEMA rules.

Calling all Emergency Managers: FEMA has issued a reminder to apply for $405.1 million in grant money to help state and local governments develop their emergency management capabilities and for all-hazards preparedness activities.  The initial application deadline is June 6.

LMA Newsletter of 4-25-22

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Tags: Building Resilient Infrastructure and Communities program, Deanne Criswell, Disaster Management, FEMA, Flood Insurance, Flood Mitigation, Hurricane Loss Mitigation Program, Ken Graham, Lisa’s Lucky 7 Hurricane Prep, National Flood Insurance Program, National Hurricane Conference

“Thank you Lisa for staying on top of, as well as advocating, for Florida residents and legislative reform. Your newsletters are very informative and enjoy reading the points of view.”  

Shawna Miller, Sr. Claims Quality Assurance & Compliance Manager
Florida Peninsula Insurance Company
Jacksonville, FL

“Just a quick note to let you know how much I have appreciated your newsletter over the years and the assistance they offer for those in the field of claims. We depend on the information more than you will ever know!”

Laurie Rasberry, Chief Claims Officer
Acorn Claims
Prosper, Texas

“Lisa Miller is a true champion for the insurance industry, with her regular updates! We appreciate all you do and keeping us up to date on priority issues!”

Gillian Lloyd, Account Executive
Zywave
Milwaukee, WI

“Another great Newsletter on Florida industry this week.  Your service and advocacy in Florida is very important to keeping me updated and apprised of the Florida insurance laws, trends and overall environment.  Something similar is very much needed in Louisiana, too.”

Jennifer Tedesco, Esq., Claims Director
Pharos Claims Services
Orlando, FL

“Great article on Risk Rating 2.0!”

Austin Perez, Senior Policy Representative for Federal Housing, Valuation, Insurance and Commercial Issues
National Association of Realtors
Washington, D.C.

“Just wanted to say that I thoroughly love your newsletter. It’s is always informative and insightful to the ins and outs of our industry.  You are an inspiration and an important asset in the insurance world.  Keep up the great work!” 

Cynthia Scott, President
University Insurance Group
Davie, FL

“Your newsletter is fabulous!  I greatly appreciate the topics you expose, so that insurance professionals like myself can keep up with the latest events that affect the public we serve and ourselves.”

Cynthia Hoehn, Independent Property & Casualty Personal Lines insurance agent
Clermont, FL

“I have followed your weekly newsletter and podcasts and now have a full appreciation for what you bring to this industry.  You are an inspiring force, plain and simple.  I wanted you to know that you make a difference.  Thank you for all you do!”

Jeffrey Karam, CPCU
Bradenton, FL

“Lisa this is another great newsletter, and we appreciate the time and energy you put into these informative updates – you are on top of these topics!”

Mike Graham, CEO
Smart Vent Products, Floodproofing.com, & Risk Reduction Plus
Juno Beach, FL

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