Hurricane Helene Flood Insurance Payments Surpasses $1 Billion
Hurricane Helene Flood Insurance Payments Surpasses $1 Billion FEMA Encourages Florida Policyholders to Take Advantage of Extended Grace Period to Renew WASHINGTON -- The National Flood Insurance Program (NFIP), administered by FEMA, has paid policyholders over $1.4 billion for flood losses stemming from Hurricane Helene recovery, with over 56,000 policyholders having filed claims following the storm’s landfall. FEMA estimates Hurricane Helene could potentially result in flood insurance claims losses between $3.5-$7 billion. These estimates are FEMA’s projections as of Nov. 12, 2024 and are subject to change. The losses include flood insurance claims received from six states, with the majority of
FEMA Projects up to $3.5 to $7 Billion in Hurricane Helene Flood Insurance Claim Payments
FEMA Projects up to $3.5 to $7 Billion in Hurricane Helene Flood Insurance Claim Payments WASHINGTON – As of Nov. 7, more than 55,000 flood loss claims have been reported to the National Flood Insurance Program (NFIP) from Hurricane Helene. The program has paid approximately $830 million in claim payments to policyholders. FEMA has projected Hurricane Helene could potentially generate National Flood Insurance Program claims losses between $3.5 to $7 billion (initial estimate), including loss adjustment expenses. The losses include flood insurance claims received from six states, with the majority of claims coming from Florida. The agency based the initial estimate on