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Tuesday, November 5, 2013

Homeowners Flood Insurance Affordability Care Act of 2013 - "Flood zone residents can rest easy for now..." - I THINK NOT!

Although I am sure it was unintentional, the lead paragraph of the below story in the Queens Courier which states "Flood zone residents can rest easy for now ‑ as impending increases in flood insurance have been put on the back burner" is misleading.

The proposed legislation being reported on is still just that, "proposed legislation", and has not been voted on by Congress as yet.

Consequently, now is certainly not the time to "rest easy"!  

We must all continue to keep up the pressure on all our elected representatives, local, state and federal, to encourage them to broaden support for this bipartisan legislative effort and help move it along the legislative highway of Congress. 




Bill could delay flood insurance hikes for Sandy victims


By Maggie Hayes
November 4, 2013

After hundreds rallied against flood insurance hikes, a new bill could delay rate increases imposed upon Sandy victims.

Flood zone residents can rest easy for now ‑ as impending increases in flood insurance have been put on the backburner.

Congressmembers Gregory Meeks and Hakeem Jeffries co-sponsored the Homeowner Flood Insurance Affordability Care Act of 2013, legislation meant to address the flood insurance rate increase and “keep residents from being priced out of our community,” Meeks said.

In July 2012, Congress passed the Biggert-Waters Flood Insurance Reform Act, which would require the National Flood Insurance Program (NFIP) to raise flood rates to reflect “true flood risk” for a policyholder, according to FEMA.

As a result of the act, residents said that over time, their rates could get as high as $30,000 a year. Rallies protesting the price hikes were held nationwide in September, including one at the Broad Channel American Legion Hall, which brought in hundreds of residents.

“We’d like to think we played a small role,” said Dan Mundy, Jr., president of the Broad Channel Civic Association. “It’s a really important first step. We hope to maybe have some input on this.”

The insurance affordability act imposes a four-year delay for certain primary residences. It also mandates FEMA complete an affordability study, which will take two years.

The new bill also allows FEMA to reimburse policyholders who successfully appeal a map determination.
Meeks and Jeffries worked with over 80 other members of Congress to pass the act and “fix” the NFIP, he said.

He vows to work with colleagues “across the aisle” to ensure the bill is signed into law and successfully implemented.

“The painful devastation we experienced during Sandy brought us together to get this done, but it was the resilience and commitment to rebuilt from the people of Rockaway that served as inspiration to make it happen,” Meeks said.

1 comment:

  1. I've been "in good hands" for more than twenty-five years and find that my choice has been one of the best. Always prompt and supportive and giving all the help and information that they could, has been a great relief in times of need. For me and my car, dwelling, and in a great feeling of their dependability and my family's security, my choice is the only one for me

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