LexisNexis® Legal Newsroom
Wystan M. Ackerman and Seth A. Schmeeckle on “Handling the Flood of Coverage Litigation: Lessons Learned from Katrina”

By Wystan M. Ackerman and Seth A. Schmeeckle In their article, “Handling the Flood of Coverage Litigation: Lessons Learned from Katrina,” Wystan M. Ackerman and Seth A. Schmeeckle examine a number of insurance coverage cases that arose in the wake of Hurricane Katrina and note that...

Controversy Surrounds the National Flood Insurance Program Extension

By Jeffrey Weinstein, Partner, Mound Cotton Wollan and Greengrass On July 15, 2010, the House of Representatives passed legislation that extends the National Flood Insurance Program (“NFIP”) and contains changes designed to provide additional certainty to the program. But, this good...

Insurance Implications in the Wake of Hurricane Irene

After Hurricane Irene, individuals and businesses will face property losses and interruption of business and will look to insurers for coverage of these multi-faceted losses. To remain up-to-date on the coverage issues raised by Hurricane Irene and similar natural events, we invite our Community to access...

LexisNexis Offers Insurance Resources in the Wake of Hurricane Irene

After Hurricane Irene, individuals and businesses will face property losses and interruption of business and will look to insurers for coverage of these multi-faceted losses. To remain up-to-date on the coverage issues raised by Hurricane Irene and similar natural events, we invite our Community...

Flooding from Irene: Whither the Flood Plain?

By J. Wylie Donald, Partner, McCarter & English My train this morning usually continues to New York. Today it terminated in Philadelphia, a victim of the deluge delivered by Hurricane Irene. Amtrak explained: Most Northeast Regional service will operate south of Philadelphia, but no Acela Express...

2011 in Review: 10 Biggest Insurance Regulatory Headliners

By Fred E. Karlinsky, Richard J. Fidei, and Elizabeth M. Fohl, Attorneys, Colodny, Fass, Talenfeld, Karlinsky & Abate Fred E. Karlinsky, Richard J. Fidei, and Elizabeth M. Fohl of the law firm of of Colodny, Fass, Talenfeld, Karlinsky & Abate have written a round-up of the ten most important...

Vetstein Law Group: “All Risk” Property Insurance Coverage Doesn’t Mean Every Risk

By Richard D. Vetstein, ESQ Insured Gets The Short End Of The Insurance Coverage Stick For Parking Lot & Building Flooding The Massachusetts Supreme Judicial Court has not been too kind to insureds these days. For the second time in 2 months , the SJC has upheld the denial of a property owner's...

Class Action Certified for Lender Requiring More Flood Insurance

THE MISCHIEVIOUS CLASS ACTION Home mortgage lenders are always concerned that their security is appropriately protected by insurance. As a result, by the terms and conditions, of the mortgage the lender keeps to itself the right to compel the borrower to buy sufficient insurance. In Stanley Kolbe v...

McNees Wallace & Nurick LLC: Flood Insurance - More Businesses Should Consider Purchasing This Coverage

[ Originally published 11/08/2011 ] By Charles T. Young, Jr. The East Coast recently suffered unprecedented flooding problems as a result of Hurricane Lee, and these problems have created new interest in the availability and coverage provided by flood insurance.

 Congress created the...

Flood Insurance Reform Act of 2012 Amendments to Flood Disaster Protection Act

By the Ballard Spahr LLP Mortgage Banking Group The federal banking agencies, together with the Farm Credit Administration, have issued joint guidance on amendments to the Flood Disaster Protection Act of 1973 (FDPA). The amendments were part of the Biggert-Waters Flood Insurance Reform Act of 2012...

State Net Capitol Journal Legislative Updates: More States Implement Affordable Care Act Health Insurance Reforms

GOVERNORS IN BRIEF: KENTUCKY Gov. Steve Beshear (D) introduced the state's health benefits exchange web site, dubbed "Kynect: Kentucky's Healthcare Connection." Health exchanges are scheduled to begin enrolling members on Oct. 1 (LEXINGTON HERALD). HEALTH & SCIENCE: COLORADO...

Columbia Law School Center for Climate Change Law: A Coastal Conundrum: Biggert-Waters Flood Insurance Reform Act and Coastal Insurance Policy

Congress passed the Biggert-Waters Flood Insurance Reform Act just two months before Sandy scoured the northeast, and “requires rates to rise 25 percent annually on some repeatedly flooded houses, second homes and businesses,” and on properties where the costs imposed by past floods exceed...

Flooded House

Closed! Government Shutdown’s Effect On Massachusetts Real Estate Market

I’ve been glued to CNN in recent days, watching incredulously as those buffoons in Washington grind our government to a halt. I though for sure that a midnight deal would have been struck, but I woke up this morning with the dreaded news that the government has indeed shutdown. I’ve been...

Flood Insurance Super-Storm Hit Oct. 1, Premiums To Surge

New Flood Insurance Rates and Map Changes To Drown Homeowners With Premium Surge, Subsidies To End I was recently working on a sale transaction in Wareham which went under agreement with no issues. As is common in that coastal area, the property is in Flood Zone with a subsidized flood insurance annual...

Federal Agencies Propose New Federal Flood Insurance Regulations

The Federal Deposit Insurance Corporation recently approved for release joint proposed regulations to implement provisions of the Biggert-Waters Flood Insurance Reform Act of 2012 (the Act). The proposal would amend the Flood Disaster Protection Act of 1973 (FDPA) requirements relating to the escrow...

First Circuit Rules Constitution's Appropriations Clause Quashes Flood Policy Claim Lacking Proof-of-Loss

By J. Wylie Donald You know it is not going well when the court cites the Constitution at you in a breach of contract case. But so it went in DeCosta v. Allstate Insurance Co. [ enhanced version available to lexis.com subscribers ], where the First Circuit last month reversed the trial court...

State Net Capitol Journal: Congress Struggles To Find Balance In Flood Insurance Reform

By Rich Ehisen | When Lynne Kampel bought her small home on Long Island in 1990, its location across the road from Randall Bay's inlet waters, only blocks from the famed Nautical Mile, was a real selling point. So was its price tag, a steal at just $105,000, which made ponying up the monthly mortgage...

Florida's Move to Establish a Stronger Private Flood Insurance Market Provides an Opportunity for Insurers, Developers and Property Owners

The Biggert-Waters Flood Insurance Reform Act of 2012 In 2012, Congress passed a law to reform the National Flood Insurance Program (NFIP) to make the program self-supporting without federal subsidies. Specifically, the law called for local flood maps to be updated. Existing subsidies and discounts...

2013 in Review: 10 Most Important Insurance Regulatory Developments

Fred E. Karlinsky, Richard J. Fidei, Trevor B. Mask, and Benjamin J. Zellner of the law firm of Colodny, Fass, Talenfeld, Karlinsky, Abate & Webb have written an in-depth commentary comprised of a round-up of the ten most important developments in federal and state insurance regulation of 2013. Highlights...

Temporary Delay of Flood Insurance Premium Increases Inserted into Omnibus Budget Bill

By Ethan I. Strell, Esq., Associate Director & Fellow, Columbia Center for Climate Change Law The massive over $1 trillion consolidated appropriations bill passed by Congress contains a one-sentence rider that will delay through next September implementation of one aspect of flood insurance...

Responding to Concerns About Affordability, Congress Pulls the Plug on 2012 Flood Insurance Reforms

Ethan I. Strell, CCCL Associate Director and Fellow President Obama has signed into law the Homeowner Flood Insurance Affordability Act of 2014 (2014 Act), [ enhanced version available to lexis.com subscribers ], whose stated purpose is to “delay the implementation of certain provisions of...

Agencies Issue Statement on Increased Maximum Flood Insurance Coverage for Other Residential Buildings

The Office of the Comptroller of the Currency, the Board of Governors of the Federal Reserve System, the Farm Credit Administration, the National Credit Union Administration, and the Federal Deposit Insurance Corporation (collectively, the Agencies), recently issued an announcement regarding the implementation...