From online ezine “Insurance Journal”, dated
October 28, 2013:
Key House and Senate members have reached a bipartisan deal to delay changes to the federal flood insurance program that are raising premiums for many homeowners. The bill would require regulators to address affordability of the coverage before implementing rate hikes.
The new legislation calls for a four-year delay in most rate increases and requires FEMA, which administers the flood program, to complete an affordability study and propose regulations that address affordability issues.