Mayor Landrieu and City officials reminded residents that new flood insurance rates are going into effect on Sept. 30, 2016. More than 53 percent of all properties in New Orleans were removed from Special Flood Hazard Areas (“A” zones) and as a result, will benefit from more affordable flood insurance
Mayor Mitch Landrieu will join City Officials to remind residents of the updates to the new FEMA flood insurance rates that go into effect for New Orleans this Friday, Sept. 30, 2016.
Insurance Commissioner Jim Donelon announced today that the Federal Emergency Management Agency (FEMA) has granted a 60-day extension on filing the Proof of Loss form for National Flood Insurance Program (NFIP) policyholders who were affected by storms across the state in March. The program normally requires policyholders to file that form within 60 days of suffering flood damage.
Insurance Commissioner Jim Donelon is asking the Federal Emergency Management Agency (FEMA) to extend its deadline for Louisiana homeowners impacted by flooding. A federal disaster declaration issued March 13 has been expanded to cover 36 Louisiana parishes. FEMA’s National Flood Insurance Program (NFIP) requires homeowners to file a Proof of Loss form to claim damages within 60 days of a flood.
Commissioner Donelon Reminds Policyholders of Approaching Deadline to Claim Property Insurance Rebate
Insurance Commissioner Jim Donelon reports ongoing progress in the shift of policies to the private market from the state’s insurer of last resort, Louisiana Citizens Property Insurance Corporation (Citizens). At the same time, he is also reminding property insurance policyholders that the deadline to claim a rebate for the Citizens Assessment charged on their 2011 insurance policies is December 31, 2015.
The City of New Orleans will host its fourth in a series of online monthly auctions for adjudicated properties on Wednesday, Oct. 7, 2015, from 8 a.m. to 8 p.m., subject to a rolling close in the case of last-minute competitive bidding. The City is scheduled to sell about 100 properties throughout the community, where winning bidders will receive full ownership and title insurance for each property. The City also reminds residents that there are over 1,000 properties still available for deposit to begin the research and notification processes before an auction may be scheduled.
With the rise of online community marketplaces and the popularity of the new sharing economy, more people are turning to renting out rooms or their entire homes to guests for extra income. However, major questions can arise when a home is used for a purpose that’s not included in its insurance coverage.
Congressman Ralph Abraham, M.D., R-Alto, passed an amendment to the energy and water development appropriations bill around midnight Friday that defunds the President’s executive order that changed the Federal Flood Risk Management Standard.
In an effort to further expand homeownership opportunities across the state, the Louisiana Housing Corporation (LHC) will now offer a 30-year LHC Preferred Conventional mortgage program with 3 percent down payment assistance and reduced mortgage insurance
Rep. Bill Cassidy (R-LA) announced that the National Flood Insurance Program (NFIP) is continuing to implement the Grimm-Cassidy Substitute Amendment to the Homeowner Flood Insurance Affordability Act of 2014. Insurance companies will begin to issue refunds for applicable policyholders beginning October 1, 2014. All checks are anticipated to be written by the end of the calendar year.
Insurance Commissioner Jim Donelon is making Louisiana Citizens Property Insurance Corporation (Citizens) policyholders aware of a refund that is being issued. The refunds are for application fees that were charged to policyholders without their knowledge and are being paid pursuant to a written order issued by Commissioner Donelon
Today the Homeowner Flood Insurance Affordability Act, H.R. 3370 was signed into law by President Barack Obama. With his signature, 5.5 million Americans including over 200,000 in Louisiana will begin to see relief from exorbitant premiums resulting from Biggert-Waters
WASHINGTON - March 13, 2014 - (RealEstateRama) -- Today, Congressman Bill Cassidy praised Senator David Vitter and the Senate’s efforts in advancing the Grimm-Cassidy amended version of the Homeowner Flood Insurance Affordability Act. Senator Vitter announced today that he is “very hopeful” the Senate will vote on flood insurance today or tomorrow. Dr. Cassidy released the following statement:
WASHINGTON, D.C. - March 5, 2014 - (RealEstateRama) -- Today, Congressman Bill Cassidy announced that the amended Homeowner Flood Insurance Affordability Act (H.R. 3370) was finalized Friday evening after its review by a group of bi-partisan leaders in the House. The final version of the legislation is likely to be voted on next Wednesday.
WASHINGTON, D.C. - January 31, 2014 - (RealEstateRama) -- Today, Congressman Bill Cassidy, M.D. commented on the Senate approving the Menendez-Isakson Homeowner Flood Insurance Affordability Act. The legislation is part of an effort to reform flood insurance which started with the Cassidy Amendment, a current law which suspends certain rate hikes for up to 400,000 Louisianans through next year. Dr. Cassidy also helped introduce the House version of the legislation that passed today. He released the following statement