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Northeast States, Colorado See Highest Growth in NFIP Policies

The number of policies in the National Flood Insurance Program (NFIP) rose most in the Northeast and Colorado over the last year...
December 13, 2013

The number of policies in the National Flood Insurance Program (NFIP) rose most in the Northeast and Colorado over the last year. New York had the largest growth in flood policies between Sept. 30, 2012, and Sept. 30, 2013, growing 15.5 percent to 194,650. However, only 25 percent of New York properties in high-risk areas are covered by NFIP policies. The overall NFIP policy count for the 50 states rose 0.5 percent in the last year, with the most growth seen in New York, Connecticut, Colorado, New Jersey, and Massachusetts.

New York saw the largest growth in flood policies, according to statistics from the NFIP. Parts of New York were devastated in October 2012 by flooding from Superstorm Sandy. In contrast, Texas, which is the second-largest state by policy count for the NFIP, posted a 2.2 percent policy count decline. Mark Hanna, spokesman for the Insurance Council of Texas, said there hasn’t been a hint of flood or heavy rains in Texas in recent years, which could help explain the small decline.

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