Flood insurance in Louisiana comes under review

Flood Insurance

Federal officials flock to Louisiana to examine flood insurance

The National Flood Insurance Program has been a controversial topic for several years in the U.S. The federal program is typically the only place for homeowners to find the flood insurance protection they need. Those in risk-prone areas of the country have a heavy reliance on the program, which is a problematic issue in itself due to the program’s crippling financial troubles. In Louisiana, federal officials overseeing the program have begun touring the state in order to gain a better understanding of how the flood insurance program is affecting homeowners.

LAMP program attracts attention in Louisiana

The Federal Emergency Management Agency, which oversees the National Flood Insurance Program, recently launched its Levee Analysis and Mapping Procedures initiative, known as LAMP. This initiative is meant to account for non-accredited flood protection structures that had not been accounted for by FEMA in previous years. FEMA officials have come to Louisiana in order to gauge the impact that LAMP is having on the state, which serves as home for the LAMP pilot project.

Flood InsuranceFlood insurance rates are on the rise

Homeowners in Louisiana have been expressing concern over dramatic increases in the cost of flood insurance coverage. Rates are growing due to FEMA’s efforts to renovate its own flood maps, which document regions of the country that can be considered being at high risk of falling victim to floods. Rising flood insurance rates are not only due to FEMA’s flood maps, of course. Rates are also being influenced by the financial problems of the National Flood Insurance Program and the lackluster flood protection that exists in some parts of the state.

LAMP program criticized by homeowners

There are concerns among Louisiana residents that the LAMP program could have an adverse affect on the real estate market. The program is expected to require homeowners in coastal communities to make drastic and costly changes to their properties in order to mitigate any damage caused by floods. Homeowners would be required to make these changes themselves, however, which many people cannot afford. This could drive people from their homes and lead to a drop in the value of these properties, especially if they are not fortified against flood damage.

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