How Big Changes Coming to Flood Insurance Will Affect Commercial Property in Florida
By EsqSocial Corporation 07/01/21
The Federal Emergency Management Agency (FEMA) administers the National Flood Insurance Program (NFIP). The NFIP offers insurance coverage for physical losses to buildings and/or contents caused by a flood. Over the years, FEMA has incurred debt from the Department of Treasury to pay claims and expenses associated with NFIP-insured properties. According to the Government Accounting Office (GAO), FEMA is unlikely to collect enough in premiums from NFIP-insured properties to repay this debt....
By: Shutts & Bowen LLP