Last evening we attended the annual neighborhood holiday party which normally is a time of good cheer and an opportunity to visit with our neighbors to catch-up on their families and community news. This year was a little different. The one conversation everyone was having was the unconceivable flood premiums hitting folk’s mailboxes as a result of the Biggert-Waters 2012 Flood Reform Act.  Our street is basically an island with water on all four sides. So everyone is affected as are many other communities across Florida including many non-water front homes in flood zones.  Yep, flood insurance and what the federal government has done to all the folks across the nation that are required to have flood insurance is one hot topic.

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While the national press is full of politicians pontificating about what Congress has done (as in “done in”) to tens-of-thousands of property owners in the very ill advised legislation called Biggert-Waters Flood Reform Act (B.W.-12) known as the National Flood Insurance Program Reform Act, not to be outdone, the regulators and political types in Tallahassee have been busy as well.

First, a little commentary on Washington DC, and no, not the budget or government shut down.  What I am talking about is the legislation for the National Flood Insurance Program reforms that was voted on by a majority of your elected congressional officials without any debate, given that the Biggert-Waters legislation was attached to a transportation bill and thus never saw the light of day.

 

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Q. The city where we live experienced a ten inch water main break that flooded our basement with 4 ft. of water. We hired a public adjuster 10 days ago. Now they are backing out saying there are limitations to what they can do. Should we go with the city's insurance? Should we find out what limitations there are with our homeowners policy?

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On September 11th last year, Rick and I flew to New York City for a planned meeting with Anderson Kill Loss Advisors, a group of the nation’s top public adjusters at the Manhattan law offices of Anderson Kill. The purpose of the meeting was to meet and discuss current events and future plans for this team of professional adjusters, whom we are proud to be a member.  Little did any of us know what would be coming a month and a half later. 
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The media is finally waking up to the major increase policyholders will see in their flood insurance policies. Our public adjusters are already seeing an impact on the insurance claims market. Here’s my take based on our assistance to Superstorm Sandy victims and our dealings with the NFIP over the years.

2.4 million Floridians live less than four feet above the high tide line along our coastal shores. Given the astonishing number of properties and people this represents, the cost prohibitive increases in the National Flood Insurance Program (NFIP) and the severe ramifications that will follow, deserve more attention and debate.

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Q. I’m looking for help/guidance. A flood event heaved thin crawlspace slurry pour, rotated a concrete support pier and then pushed the entire slurry floor down toward center of crawl and pier. A forensic engineer determined damage was pre-existing and not caused by the flood event. His report contained anecdotal evidence, supposition and was riddled with factual errors, including measurements. It also seemed to push irrelevant observations as supporting evidence as well. What can you tell me about this type of loss and my options?
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