flood insurance

Environment
6:00 pm
Fri March 14, 2014

U.S. Senate Passed Bill To Prevent Hikes In Flood Insurance Premiums

The U.S. Senate approved legislation this week that would spare many Rhode Island homeowners from sharp rate hikes in their federal flood insurance policies.

The Homeowner Flood Insurance Affordability Act was passed in response to the Biggert-Waters Flood Insurance Reform Act of 2012.

The Biggert-Waters Act required the Federal Emergency Management Agency, or FEMA, to develop new rates for flood insurance premiums that more accurately reflect flood risk.

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Politics
9:22 pm
Thu January 30, 2014

U.S. Senate Passes Bill Delaying Jump in Flood Insurance Rates

Sen. Jack Reeds holds a press conference after the Senate passed legislation that delays flood insurance rate hikes.
Credit Courtesy: Sen. Jack Reed's Office

Rhode Island’s senators are applauding a 67- 32 vote passing legislation that delays a spike in flood insurance premiums. Sen. Jack Reed said the Senate took a positive, bi-partisan step, while Sen. Sheldon Whitehouse called the measure a necessary step to balance solvency of the federal flood insurance program with rate shock.

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