Reform of National Flood Insurance Program

Reform could be coming to FEMA’s National Flood Insurance Program.
Mississippi’s U.S. Senator Thad Cochran helped author a bill that would limit rate hikes, cut waste, and invest more in flood risk mitigation.
If passed, the bill would cap annual premium increases to ten percent for six years. Right now increases are as high as 25 percent. It would preserve ‘grandfathering’ to provide an affordable option for policy holders to maintain coverage as the risk of flooding increases.
The bill also proposes reforms to give policy holders a level playing field when appealing cases to Federal Emergency Management Agency.