855-653-5663 info@wtgroupllc.com

NFIP Reauthorization Update

July 31 - The Senate passed the House NFIP extension to November. Congress has now passed 6 short term extensions. Industry experts are concerned that meaningful reform will be difficult to achieve in a midterm election cycle.

What does “100-year flood” mean?

Many people hear the term “100-year flood” and are confused about what this actually means and how it affects their property as well as their flood insurance coverage.

The 100-year flood is synonymous with several other terms that you may have heard, including “Base Flood”, “1% annual Chance Flood”, “High Risk Flood Zone” and “Special Flood Hazard Area” (SFHA). The 100 year-flood zone is any zone containing the letters “A” or “V”.