Have you been re-mapped to a flood zone?
Have you been re-mapped to a flood zone?
Pennsylvania Insurance Commissioner Teresa Miller issued a consumer alert earlier this month by which Pennsylvania homeowners can appeal their property’s placement in a flood zone by the federal government, which in many cases requires them to purchase flood insurance.
Commissioner Miller said FEMA recently re-mapped most of the country using 100-year flood projections, resulting in many homes being designated in flood zones which were not previously there. Many of these homes never or rarely have experienced flooding.
“If the mortgage on a home is backed by the federal government, which many are, then the homeowner must buy flood insurance,” she noted.
To learn how to appeal a flood zone designation, obtain a flood map, and find answers to other questions, visit www.fema.gov/information-homeowners The Pennsylvania Insurance Department is encouraging homeowners to consider private flood insurance options.
Pennsylvania ranks in the Top 10 in the number of rivers and creeks in the United States. Your business may be in a flood zone and you may be unaware of the hazard.
Please contact your KMRD Partners relationship manager to learn more about your firm’s risk profile from flooding and sewer back-ups, and to discuss if your present insurance coverage will protect your firm one minute from normal.
Any business interruption coverage your organization carries will mirror what is covered in your main business property policy. If flood coverage is not included, you won’t be covered for business interruption either.
For more information on Flood Insurance, click here.
KMRD reduces the overall cost of risk by producing a greater value for each commercial insurance dollar spent, while utilizing an enterprise risk management approach to engineer the optimal solution.
We are dedicated to the mitigation of risk, safety and loss control and claims advocacy, while helping firms recover from unplanned events that wait on the other side of one minute from normal.
To identify and correct coverage and service gaps in your insurance coverage contact us at contactus@kmrdpartners.com before one minute from normal strikes.
Need to deliver better risk management results for your company? Schedule a brief demo of our unique collaborative risk management system, KMRD XChange.
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