wwltv.com
Posted on July 18, 2013 at 3:33 PM
Dominic Massa /?Eyewitness News
The fight against huge increases in flood insurance premiums for south Louisiana policyholders takes a step forward after Thursday?s vote in the Senate Appropriations Committee on an amendment that would delay the increases for one year.
The measure by Sen. Mary Landrieu, is similar to one already adopted by the House.
It would prevent FEMA from raising rates on ?grandfathered? National Flood Insurance Program properties ? homes and businesses built to code and subsequently remapped into higher risk areas on a new flood map.
?When people play by the rules and build their homes and businesses up to code, they don?t expect to see their insurance premium skyrocket. But that is exactly what is happening to too many people who live and work along the coast,? Landrieu said in a news release.
?This is another step in our effort to ensure that flood insurance is affordable, accessible and self-sustainable, and that flood maps recognize the reality on the ground.?
Local parish presidents, business leaders and homeowners have been vocal in their criticism of the rate hikes, saying they would cripple local policyholders.
Landrieu is also proposing a SMART NFIP Act for a long-term solution to the flood insurance rate issue.
She will also bring FEMA Associate Administrator David Miller to Louisiana on Aug. 8.? Miller oversees the National Flood Insurance Program.
The flood insurance provision now heads to the full Senate, as does the House version, proposed by Louisiana Reps. Steve Scalise, Cedric Richmond and Bill Cassidy, Landrieu?s Republican opponent in next year?s Senate race.
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Source: http://www.wwltv.com/news/Flood-insurance-hike-216055801.html
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