On September 28, Rep. Rich Nugent
(R-Fla.) introduced the Flood
Insurance Fairness Act of 2013 (H.R. 3218) which would delay
increases in flood insurance premium rates for the National Flood Insurance
Program (NFIP) until after completion of an affordability study. H.R. 3218
stems from the Biggert-Waters Flood Insurance Reform Act (BW-12), which became
law in 2012. BW-12 extended the NFIP program for five years and worked to
make the NFIP program more solvent. Local residents and businesses in
flood prone areas are experiencing significant increases in insurance rates as
a result of the changes. These changes will affect any community that has
gone through (or will go through) the Federal Emergency Management Agency’s
(FEMA) flood mapping program.
NACo supports amending the
Biggert-Waters Act to keep flood insurance rates affordable while balancing the
fiscal solvency of the program. NACo supports reinstating grandfathering of
properties (not policies) that were built to code and have maintained insurance
or have not repeatedly flooded, and implementing rate structures that reflect
an economically reasonable rate.
To view NACo’s County News
article that details some of the challenges, click here.
Contact: Arlandis Rush at email@example.com or 202.942.4236 or Julie Ufner
at firstname.lastname@example.org or 202.942.4269