Seen in Insurance Journal:
Under legislation signed this week by Gov. Eliot Spitzer, Empire State homeowners will get an annually mailed reminder of this fact, as well as information on how to obtain flood coverage from the National Flood Insurance Program.[...]
“An annual notice will give our members’ clients a repeated opportunity to consider the risks posed to their property by flooding,” said Martin Koles, president of the Professional Insurance Agents of New York State, which supported the bill. The single flood insurance notice customers currently get “can be overlooked easily among all the documents they get when purchasing a new policy,” Koles said.
Like there aren’t already a lot of documents that most consumers tend to ignore at renewal, especially if their premiums are paid through a mortgage escrow account?