Flood victims face gaps
A new industry survey highlights prolonged financial and mental‑health strain for U.S. flood victims and says insurers are under renewed scrutiny for slow, opaque recoveries — states are responding: Hawaii released a step‑by‑step post‑disaster claims guide and instructional video to reduce confusion. The move underscores pressure on carriers to speed FNOL, provide clear customer guidance, and document decisions. (postonline.co.uk) (hawaiinewsnow.com)
A Federal Reserve Bank of Philadelphia working paper estimates about $24.4 billion in expected annual flood losses to single‑family homes, of which roughly 70% — about $17.1 billion — would be uninsured, and average underinsurance per at‑risk home is about $7,208. (philadelphiafed.org)) A systematic review of flood‑related health studies found that 65% of studies reported disparities in physical‑health outcomes and 72% reported disparities in mental‑health outcomes after floods, and academic reviews note mental‑health effects can persist months to years into recovery. (link.springer.com)) Chubb’s 2026 Flood Risk and Resilience survey polled more than 1,500 respondents — high‑net‑worth homeowners, commercial clients, agents and brokers — and flagged three persistent gaps: awareness, coverage, and an information‑to‑action shortfall that leaves many policyholders mismatched to their exposure. (about.chubb.com)) Industry data show private flood insurance growth alongside the NFIP: private residential flood direct premiums rose from about $3.29 billion in 2016 to roughly $4.7 billion by 2024, with private carriers writing just over 27% of the U.S. market as public–private dynamics shift. (iii.org)) Hawai‘i’s Department of Commerce and Consumer Affairs published a Post‑Disaster Insurance Claims Guide and instructional video and listed a consumer helpline (1‑844‑808‑DCCA) while its guidance explicitly instructs residents to photograph damage, save receipts, document repairs, and keep policy copies in waterproof or cloud storage. (governor.hawaii.gov)) Claims‑operations commentary and vendor analyses note First Notice of Loss (FNOL) has become a board‑level priority and recommend digital, orchestrated FNOL platforms to reduce intake delays, improve data quality and create auditable decision trails for adjusters and special investigations units. (furtherai.com))
