Residents and officials in flood-prone north-central Pennsylvania are warning that a new federal law ending subsidized federal flood insurance rates in certain areas will bankrupt homeowners, drive down property values and deplete tax bases. They testified during a Wednesday hearing …
Maine communities are criticizing new maps proposed by the federal government that show future flooding risks near the state’s coast that could impact what kind of insurance property owners must buy. The Flood Insurance Rate Maps released in November by …
Efforts to delay implementation of changes in the federal flood insurance program have run into roadblocks on both sides of Capitol Hill. The leaders of the House Financial Services Committee say they are standing behind last year’s bipartisan legislation to …
The federal government is urging a federal court to dismiss a Mississippi lawsuit seeking to halt flood insurance rate hikes until an affordability study is completed. In arguing for the suit dismissal, the Federal Emergency Management Agency (FEMA), which administers …
With increases in federal flood insurance rates looming, two insurance providers have said they are prepared to sell private flood policies in Florida. Their actions come as state officials are trying to provide guidelines on rates and policyholder forms for …
In support of a Mississippi lawsuit that alleges the new FEMA flood insurance rates are arbitrary and unlawful, Massachusetts Attorney General Martha Coakley has filed an amicus brief in federal court arguing that FEMA failed to collect accurate data before …
Florida and Alabama government officials have filed an amicus brief this week supporting the Mississippi insurance department’s lawsuit against the federal government’s National Flood Insurance Program’s rate hike. “We are supporting Mississippi in their lawsuit against FEMA because the NFIP …
Some New York City residents may soon face sharp increases in their flood insurance premiums as a result of major changes occurring in the National Flood Insurance Program and the redrawing of flood maps that expand the areas at risk, …
The prospect of a delay in flood insurance reforms that are raising premiums for many homeowners is being met with pushback from business, taxpayer and insurance groups. Rep. Maxine Waters, D-Calif., ranking member of the House Financial Services Committee, announced …
Key House and Senate members have reached a bipartisan deal to delay changes to the federal flood insurance program that are raising premiums for many homeowners. The bill would require regulators to address affordability of the coverage before implementing rate …
