While at first glance, April 1, 2016 NFIP changes appear to be minor, they are significant enough for you to take note of them. Upcoming changes bring premium and fee increases, a new rating methodology for both Preferred Risk Policies […]
Premium Reduction Service Reduces NFIP Flood Insurance Premiums by $55K
Our client, a large condominium association, was looking for ways to reduce their insurance premiums. The NFIP flood insurance premium on the 48 buildings was approximately $160,000. This was 45{b73b969d192d8eafaea0090998e86317c7e4c69160e33071b50feed6bdb2d318} of the condominium association’s total insurance budget of $350,000. That […]
Protect Your Assets Against El Niño
Earlier this year, the National Oceanic and Atmospheric Administration (NOAA) predicted that the 2015-2016 El Niño would be among the three strongest since 1950. NOAA was correct. We have already seen devastating floods caused by the El Niño weather pattern […]
CRIO Private Market Flood Program – Your Best Alternative to the NFIP
The Biggert-Waters Act of 2012 calls for private insurers to enter the flood marketplace to provide alternatives to NFIP insurance. CRIO offers an exclusive private market flood insurance program designed specifically for companies that have flood coverage through their master […]
CRIO at MAXIMIZE: 2015 Multifamily Asset Management Conference
Today CRIO will be presenting at MAXIMIZE: 2015 Multifamily Asset Management Conference in Amelia Island, Florida. The event will be taking place on October 12-14, 2015 and is expected to bring together over 250 multifamily real estate owners, managers, investors, COOs, CEOs, data analysts, […]
Flood Warning: Heavy Rainfall along the East Coast Expected to Cause Major Flooding This Weekend
The third hurricane of the Atlantic Season – Hurricane Joaquin – has captured everyone’s attention this week. Although it is expected that the center of Joaquin will stay offshore, several East Coast states including the Carolinas and Virginia are in […]
Portfolio Review Helps Prevent $500K Uninsured Flood Loss
Our client, one of the nation’s leading multifamily companies, has utilized our flood zone correction service for many years to correct inaccurate high-risk flood zone determinations. After experiencing that more than 50{b73b969d192d8eafaea0090998e86317c7e4c69160e33071b50feed6bdb2d318} of their high-risk flood zone determinations were wrong, they […]
Tropical Storm Erika Aims at Florida
The fifth named storm of the 2015 Atlantic hurricane season – Tropical Storm Erika – has Florida and other areas in the southeastern United States in its sights. While predicting a hurricane’s precise track and severity four or five days […]
Flood Map Revision Service Reduces Annual Flood Insurance Premiums by 97.5{b73b969d192d8eafaea0090998e86317c7e4c69160e33071b50feed6bdb2d318} – Coastal Condominiums, Florida
Our client, a 48-unit condominium association with four luxury condominium buildings located on the beach in Saint Lucie County, Florida, asked us for help determining the true flood risk for their condominium buildings in an attempt to reduce their flood […]
NFIP November 1, 2015 Program Changes Will Affect Business Structures
The Biggert Waters Act of 2012 (BW-12) requires FEMA to phase out Pre-FIRM (“subsidized”) rates on Non-Residential buildings used for business purposes. Starting November 1, 2015, the following changes will take effect, which will substantially increase insurance premiums on Non-Residential […]