Lawmakers are working to save the National Flood Insurance Program


WHAT LAWMAKERS ARE DOING TO STRENGTHEN THE NATIONAL FLOOD INSURANCE PROGRAM CONGRESS HAS UNTIL DECEMBER 8TH TO COME TO AN AGREEMENT ON REFORMS TO PREVENT THE PROGRAM FROM EXPIRING

ERIC ZERNICH HAS MORE ON THEIR DEBATE IN OUR TOP STORY A BIG PROBLEM WHEN IT COMES TO SUSTATINING THE FLOOD INSURANCE PROGRAM IS PROPERTIES THAT FLOOD OVER AND OVER AGAIN REPEAT OFFENDERS MAKE UP JUST ONE PERCENT OF ALL POLICIES FOR THE PROGRAM BUT HAVE RECEIVED ABOUT A QUARTER OF ALL LOSS PAYMENTS AND AS YOU CAN IMAGINE MANY OF THOSE PROPERTIES ARE RIGHT HERE IN LOUISIANA HOUSE MAJORITY WHIP STEVE SCALISE OUT OF THE NEW ORLEANS AREA IS FIGHTING TO PROTECT THESE PROPERTIES

JIM DONELON – LOUISIANA COMMISSIONER OF INSURANCE "SCALISE CUT A DEAL WITH CHAIRMEN HENSARLING AND HE HAS BEEN THE LEADER OF THE REFORM QUOTE-UN- QUOTE SIDE OF THE ISSUE TO PROTECT GRANDFATHER STATUS FOR THOSE ENJOYING IT TODAY" ANOTHER ISSUE BEING CONSIDERED IS UPDATING FLOODS MAPS CLAY HIGGINS US HOUSE OF REPRESENTATIVE "SO OUR LEGISLATION WOULD CALL FOR ADVANCED MAPPING OVER THE COURSE OF THE NEXT SEVERAL YEARS TO WHERE EVERY INDIVIDUAL PROPERTY, EVERY INDIVIDUAL HOME WOULD HAVE ITS OWN CERTIFIED ELEVATION" BUT BY UPDATING THESE FLOOD MAPS THAT COULD LEAD TO HIGHER INSURANCE PREMIUMS FOR HOMEOWNERS WHOSE ZONE CHANGES "PROBABLY WILL SEE INCREASES AS MAPS ARE UPGRADED, SEA LEVEL IS RISING AND THERE IS NO QUESTION ABOUT THAT AND WITH THAT AND LESS PROTECTION OR INADEQUATE PROTECTION MAPS WILL DICTATE HIGHER RATES INDEED

" THE LAST STICKING POINT FOR CONGRESS TO DECIDE IS WHETHER OR NOT TO OPEN FLOOD INSURANCE TO PRIVATE INSURERS AND PROVIDE HOMEOWNERS MORE OPTIONS "THE CONSULTANT FIRM DID A STUDY OF FLORIDA, LOUISIANA, AND TEXAS, THOSE 3 STATES HAVE 56 PERCENT OF ALL THE FLOOD POLICIES IN PLACE AND FOR OUR STATE 70 PERCENT WOULD BENEFIT WOULD GET CHEAPER AND BETTER COVERAGE IF A TRUE PRIVATE ALTERNATIVE WERE WELCOMED INTO THE MARKET" IN LAFAYETTE, ERIC ZERNICH, KATC TV3

Source: Youtube


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