Communities depend on dams, levees and floodwalls to minimize the risk of flooding. Nationwide, the number of dams built for the purpose of flood control is as high as 16,179, along with approximately 22,000 levees and 15,000 floodwalls, according to […]
Clear Communications and the FEMA Letters on Flood Risk to NFIP Policyholders
The Homeowner Flood Affordability Insurance Act (HFIAA) requires FEMA to clearly communicate full flood risk determinations to individual property owners (Section 28, Clear Communication of Risk). Therefore, starting January 2017, NFIP policyholders will be receiving the letters directly from FEMA […]
Freddie Mac’s Bulletin for the Multifamily Seller/Servicer Guide Highlights Changes to Flood Insurance Requirements for Multifamily Properties
Recently, Freddie Mac published a new Bulletin for the Multifamily Seller/Servicer Guide that addresses some flood insurance requirement changes for multifamily properties. This includes revisions to their flood insurance requirements, as well as an update on maximum deductible allowance to reflect […]
April 1, 2017 NFIP Program Changes Bring Further Premium Increases
April 1, 2017 NFIP changes comply with the requirements of the Biggert-Waters Flood Insurance Reform Act of 2012 (BW-12) and Homeowners Flood Insurance Affordability Act of 2014 (HFIAA). The changes bring further premium increases and rating clarifications on properties newly […]
CRIO at the NMHC OPTECH – Premier Multifamily Industry Event in Dallas, TX
This week, Dan Freudenthal, President at CRIO, presented at the NMHC OPTECH – the premier multifamily conference and exposition that took place on November 14-16, 2016 in Dallas, Texas. The event brought together over 1,400 top minds of the multifamily industry, including […]
New FEMA Flood Maps for Harris County, TX
New FEMA flood maps for Harris County, Texas take effect January 6, 2016. The new flood maps negatively impact more than 14,000 properties by placing either the entire property or a portion of the property into a Special Flood Hazard Area […]
Hurricane Matthew Is On It’s Way
Last night, the trajectory of Hurricane Matthew shifted to the west, according to the advisory of the National Hurricane Center. This means that according to the current models Hurricane Matthew is expected to skirt along the east coast of Florida […]
CRIO at the MBA Insurance Conclave in Chicago, IL
For the second time, Dan Freudenthal, President at CRIO, was invited to present on the topic of flood at the Mortgage Bankers Association’s (“MBA”) Insurance Conclave, which was held on September 20th in Chicago, IL. The audience included over 50 risk management professionals from […]
Into the Peak of the Hurricane Season
Although the Atlantic hurricane season officially began on June 1st, the hurricane activity peaks from mid-August through mid-October – a period commonly referred to as a “season within the season”, according to the National Oceanic and Atmospheric Administration (NOAA). Weather […]
CRIO at Advisen’s 2016 Property Insights Conference in New York
For the second year in a row, CRIO has participated in Advisen’s Annual Property Insights Conference that took place in New York City on June 9, 2016. The event brought together over 350 risk management and insurance professionals that gathered […]