Tag: Homeowner Flood Insurance Affordability Act

Flood insurance rates continue to rise in West Virginia

S.Vagus
West virginia Flood Insurance Coverage

Insurance coverage continues to become more expensive despite new law Last week, President Barack Obama signed the Homeowner Flood Insurance Affordability Act into law. The legislation repeals provisions of the Biggert-Waters Flood Insurance Reform Act of 2012 that were responsible for the dramatic rise in flood protection premiums. While these provisions have been repealed, insurance premiums are still expected to rise over the coming months, especially due to the fact that government subsidies meant to reduce the financial impact of higher premiums begin to expire. Rates are growing by 25%…

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Flood insurance bill is now a law with Obama’s signature

G. Turner
Flood homeowners Insurance Program

The President has now signed the long awaited and fought for legislation to help to keep coverage affordable. President Barack Obama officially added his signature to the hard fought legislation, turning the flood insurance bill into a law and making certain that the increases in premiums would not rise by any more than 18 percent per year. This was not legislation that came about easily or without considerable controversy. Senator Mary Landrieu (D – Louisiana), was among the bill’s most vocal and adamant supporters. She received a call early in…

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