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A Tale of Two Cities (and Mayors)

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Cost v. Risk

Broward County tidal flooding in Ft. Lauderdale, September 2015. Courtesy, Paul Krashefski/Broward County

After all the effort we have now read that Pinellas County put into making its infrastructure and residents more resilient to flooding thru improved CRS requirements, let’s take a look at another populous county, this one on Florida’s east coast: Broward County.  FEMA recently released its updated flood maps and the Sun Sentinel reports that about 65,000 properties may be required to buy flood insurance for the first time due to changing flood zones.  The article provides some interesting prospective.

Under the current maps, which are 30 years old, flood zones cover about 105,000 of the county’s 480,000 parcels.  The city of Pembroke Pines has an added 6,905 properties that will now be in flood zones.  Mayor Frank Ortis plans to challenge the maps and is quoted as saying it’s not altogether necessary and “an unfair burden and expensive.”  But next door in the city of Miramar, Mayor Wayne Messam says he won’t challenge the new maps that add more than 20,000 properties, acknowledging that flooding has gotten worse and “it behooves property owners to have protection.”

So we have two cities within minutes of each other and their leaders are sending opposing messages, with one saying mandated flood insurance is expensive and the other saying residents need the protection.  We only need to look back three weeks ago at the ravages of Hurricane Ida and its unexpected floodwaters that wiped away 250 homes in Caruso NC, close to where I was visiting at the time.  And where the mayor says “expensive,“ we ask: How do you calculate how expensive it is to lose your home, your largest asset, because you can’t repair it after it’s flooded as there is no insurance or other means to replace it?  The article points out that the average federal flood insurance policy in Florida costs just under $600 a year.  Private flood insurance policies can be even less expensive, depending on the specific property.  

Just ask a Realtor.  Realtors are on the front lines before and after the storm.  While flood insurance may be an added expense at closing time, the relief on the faces of buyers after the storm because they had flood insurance is a priceless image and smart security in a state where “if it can rain, it can flood!”

LMA Newsletter of 9-20-21

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Tags: Broward County, FEMA, Flood Insurance Rate Maps, Flood Zones, Florida Flooding, Frank Ortis, Miramar, National Flood Insurance Program, Pembroke Pines, Private flood insurance, Wayne Messam

“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

“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

“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.

“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

“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

“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

“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

“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

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