Florida and other states are trying to fend off an attempt by the Biden administration to end a lawsuit challenging changes to the National Flood Insurance Program that have led to higher premiums for many property owners.
Tag: flood insurance rates
10 States, Local Governments Sue FEMA Over Higher Flood Insurance Rates
Ten states and dozens of municipalities are suing the Biden administration over rate hikes in the National Flood Insurance Program. That program offers coverage in high-risk flood areas and is administered by FEMA.
FEMA Report: Flood Insurance Hikes Will Drive 1M from Market
When pressed by members of Congress, the Federal Emergency Management Agency (FEMA) stated that its new update to the nation’s flood insurance program will encourage more people to sign up for coverage, despite the fact that many will pay more for it. However, according to a FEMA report obtained by The Associated Press under the… Continue reading FEMA Report: Flood Insurance Hikes Will Drive 1M from Market
New Flood Insurance Rate Renewals Begin on April 1
The second phase of the transition to the Federal Emergency Management Agency’s (FEMA) Risk Rating 2.0 begins on April 1, when homeowners who currently have flood insurance will begin to see the revised rates as their policies are renewed. FEMA is transforming the way it calculates premiums for flood insurance policies that are made available… Continue reading New Flood Insurance Rate Renewals Begin on April 1
FEMA Requests Comments on Improving Flood Insurance Program
The Federal Emergency Management Agency (FEMA) is seeking input on how to change flood insurance, a powerful program that both sets standards for resilience in building across the country and encourages repeated construction in vulnerable areas. FEMA’s open call for public comments will be open until Jan. 27, and participants will be able to write… Continue reading FEMA Requests Comments on Improving Flood Insurance Program
Flood Insurance Costs Set to Rise as FEMA’s New Rates Kick In
The federal government Friday rolled out a flood-insurance program revamped to reflect worsening climate change, a program that will raise rates for millions of homeowners in wealthy coastal areas and humble inland communities alike. The Federal Emergency Management Agency in April announced the first significant update to the beleaguered National Flood Insurance Program, which covers… Continue reading Flood Insurance Costs Set to Rise as FEMA’s New Rates Kick In