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Do you have flood insurance? Do you need it? (Photo: istock)

As the Northeast recovers from the third Nor’easter in three weeks and other sections of the U.S. prepare for swollen rivers from the spring snowmelt, thoughts turn to flood and insurance. Combined with the debates in Congress around renewing the financially strapped National Flood Insurance Program and flood insurance reforms, the issue is definitely top of mind for insurers and policyholders alike.

As many discovered during the hurricanes, mudslides and other natural catastrophes in 2017, most U.S. property owners are woefully underinsured and surprisingly unaware of the flood risks they face. According to a new study led by the University of Bristol, more than 41 million Americans are at risk — significantly higher than the current estimate of 13 million.

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Rosalie Donlon

Rosalie Donlon is the editor in chief of ALM's insurance and tax publications, including NU Property & Casualty magazine and NU PropertyCasualty360.com. You can contact her at [email protected]

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