FloodFlash closes Series A to bolster flood insurance
FloodFlash, the parametric insurance technology company that pays catastrophic flood claims within 48 hours, has raised $15m in Series A funding.
SCR Webinar: Flood Insurance Update
Lisa Jones, CFM, CPM, ANFI, a flood professional with Carolina Flood Solutions LLC discusses the big changes with the National Flood Insurance Program as a result of The Biggert-Waters Flood Insurance Reform Act of 2012 (“Reform Act”).
Don’t miss this informative presentation that will help you protect yourself, your clients and give you a competitive edge over other professionals.
Flood Insurance in Massachusetts: 2019 Update
The 2018 winter storms devastated large portions of the Massachusetts coastline. In the wake of the damage, we had the pleasure of interviewing Joe Rossi. Joe Rossi is one of the preeminent flood insurance experts in Massachusetts . He is head of the flood insurance department at Rogers and Gray Insurance and the founder, Chairman and Executive Director of the Massachusetts Coastal Coalition. In anticipation of the 2019 winter storm season, Mark Stiles met with Joe Rossi to discuss updates to the flood insurance industry.
What should people be doing to be proactive? Review your policy to determine your coverage. Verify that you have a flood policy. Make sure that personal property stored in your yard doesn’t become potential damage-causing debris. Basements have limited coverage–don’t store valuables in the basement if possible. For example, lift your washer and dryer.
How has the government shutdown impacted flood insurance through FEMA? The Department of Homeland Security is one of the largest agencies impacted. FEMA is controlled by Homeland Security. FEMA initially closed the flood program which would have prevented new policies from being written. The program has been reopened, but there are some areas of customer service that may be furloughed.
Private flood insurance has existed for over fifty years. In recent years, it has become a bigger provider of coverage. The marketplace is becoming more competitive. In some instances, private flood is more cost effective. In some cases, the federal program may be more efficient. Speaking with an insurance agent that specializes in flood insurance is the best way to find the most efficient solution. Policy limits may be higher with a private policy with greater flexibility.
The Massachusetts Coastal Coalition is now providing a suite of flood insurance services. For more information, visit knowflood.org or by contacting Joe Rossi at [email protected].
To contact Stiles Law call (781) 319-1900 or by visit https://www.stiles-law.com .
Stiles Law, with offices located in Boston and Marshfield, Massachusetts, is a firm concentrating in real estate conveyancing and mortgage lending services, representing buyers, sellers, borrowers, banks, mortgage companies, investors, builders and developers in all of their real estate and mortgage transactions. Stiles Law serves all areas of eastern Massachusetts–the North Shore, Boston, and Cape Cod, in addition to the entire South Shore, including: Plymouth, Kingston, Duxbury, Hanover, Pembroke, Marshfield, Scituate, Norwell, Cohasset, Hull, Hingham, Weymouth, Braintree, and Quincy.
Copyright © 2019 Stiles Law, All rights reserved. Stiles Law is a Massachusetts licensed law firm and all content is based on Massachusetts law. The information presented above is meant to be used for general informational purposes and it should not be construed as legal advice or legal opinion on any specific facts.
California’s storm-weary homeowners face the challenges of flood insurance
Journalist Blanca Begert talks about her article ‘California’s storms are almost over. Its reckoning with flood insurance is about to begin.’
Flash Flood Damage – Who pays for your repairs? Can you sue your Neighbor?
How can you repair your property if you’ve been the victim of flood damage? What if the flood damage was caused by something your neighbor did? Are you SURE that you have insurance protection from flood damage? What about damage from flash floods?
00:00 – Intro
00:14 – Imagine This
00:45 – Who is Liable?
01:41 – Types of Water Damage
02:17 – What Can You Recover?
02:50 – What are Some Other Forms of Compensations?
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If you’ve lived in West Texas for long, or anywhere in Texas for that matter, you know that storm clouds form fast and the rain can fall even faster.
Do you know your duties when it comes to rainwater? Do you know what your liabilities are for floods?
You’re enjoying the warm sunny afternoon in your backyard when suddenly the wind picks up and sand starts whipping past you.
Unexpectedly it begins to rain. As you run inside, you notice the water running off your neighbor’s property, flowing into your yard.
The next thing you know, their patio furniture comes crashing through the fence and into the siding of your home. Now insurance refuses to cover the repairs, leaving you with nothing but damaged property and a muddy mess.
Who is Liable?
In general, neighbors are not typically liable for harm caused by the naturally occurring rain or land conditions. Drainage from a natural landscape is typically seen across land from high elevation to lower elevations. However, if your neighbor has purposefully changed the natural landscaping of their property, causing an increased amount of surface water runoff, then he may be liable.
In Texas, regulations and laws make it illegal to cause the runoff of water onto another person’s property in a manner that damages the property of another by the overflow of the water.
—See Overflow Caused by Diversion of Water-Tex. Water Code § 11.086(a)
When your neighbor alters the natural conditions of his property through landscaping that causes damage to your property, then you have certain remedies at law and in equity. Typically, this type of activity is considered a nuisance or trespass.
Types of Water Damage
Surface water is not defined in the Texas Water Code; however, courts have interpreted it to consist of water from falling rain or melting snow until it reaches a clearly defined watercourse, such as a channel or bed. Specifically, the flowing water cannot come from a clearly defined drainage system. If the water is surface water, the most common types of water damage include:
1. Personal Property Loss or Damage
2. Foundation Damage
3. Mold or Mildew growth
4. Soil Erosion
5. Health Damages
What Can You Recover?
If your neighbor is responsible for water damage he has caused, you may be entitled to compensation. This can include payment for the cost of repairs or replacements of items harmed, reimbursement for expenses incurred by flooding, reimbursement of medical expenses, and possibly payment of damages to punish the neighbor if the flooding was maliciously and intentionally caused. Courts may also order the neighbor to fix certain issues caused by the flooding such as clearing debris or cleaning out drainage areas.
—See Overflow Caused by Diversion of Water-Tex. Water Code § 11.086(b)
What Are Some Other Forms of Compensation?
The simple answer is insurance. There are two different types of insurance that might cover flooding damages: homeowners insurance and flood insurance. Typically if the damaging water came from an outside source (not within your home) only flood insurance may apply. Additionally, you may be able to collect compensation from your neighbor’s insurance company.
Be sure to speak with your civil litigation attorney if you need help filing an insurance claim, or if you are considering a lawsuit against your neighbor for water damage, as there are many considerations that must be assessed prior to any action.
Worth It if You Work for It (Instrumental) – @neffexmusic
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