On January 27, the United States Senate is expected to take up a bill (S. 1926) that would delay certain flood insurance rate hikes resulting from the Biggert-Waters Flood Insurance Reform Act of 2012 (BW-12). This bill is an important first step for many Florida property owners facing unaffordable and unrealistic increases in flood insurance premiums. While leadership in the U.S. House of Representatives has indicated flood insurance reform will be taken up early this year, it is unclear how they will proceed.
FAC is coordinating a fly-in to Washington DC on February 11 to share concerns and policy proposals with members of the House of Representatives. We invite you to join us on February 11 to share your local perspective, the concerns of your constituents and solutions for moving forward.
Please contact Deena Reppen or Eric Poole at 850.922.4300 for more information and to lend your voice to this important issue.
In early January FAC coordinated a Washington D.C. Fly-in to advocate for changes to BW-12 as a critical step toward helping Florida property owners manage changes to the National Flood Insurance Program (NFIP). BW-12 is designed to eliminate government flood insurance subsidies and stabilize the NFIP by raising rates by 20-25 percent annually to reflect true flood risk. Along with a delay in unaffordable rate hikes, FAC is also encouraging the addition of affordability and mitigation policies and programs to reform legislation to help achieve NFIP solvency without unduly burdening affected property owners.
For the latest information on flood insurance legislation, read FAC’s latest Washington Report. For more on flood insurance reform, visit FAC’s web site at http://www.fl-counties.com/advocacy/federal.