Pages

Wednesday, January 29, 2014

US lawmakers eye break on flood insurance costs expected to rise post-Sandy

FINALLY...one of our local major print newspapers saw fit to provide coverage of the ongoing struggle of thousands of homeowners against the extreme punishing flood insurance rate hikes as a result of the Biggert-Waters Flood Insurance Reform Act of 2012!  

A total of five, one sentence paragraphs!  

Well, it's a start!



DEBBIE EGAN-CHIN/NEW YORK DAILY NEWS

U.S. legislators may delay hikes in flood insurance prices for people who live in designated flood zones like Utica Walk in Breezy Point, Queens, shown in the immediate aftermath of Hurricane Sandy.

Congress moved Monday toward delaying flood insurance hikes for hundreds of thousands of people in New York and other coastal states.
The Senate voted, 86 to 13, to take up a bill delaying an increase in federal flood insurance premiums paid by people who live in officially designated flood zones.
The vote indicates the Senate will likely pass the bill later this week, although House Republican leaders have balked.
The higher premiums reflect recent flood insurance program reforms intended to match rates to flood risk.
In the New York region, tens of thousands of residents hit by Hurricane Sandy face insurance rate hikes unless Congress acts.

No comments:

Post a Comment