On behalf of Florida’s 67 counties, FAC President Bryan Desloge this week appealed to members of Congress for their help in addressing provisions of the Biggert-Waters Flood Insurance Reform Act that affect Florida. The reforms, which were passed in October 2012, are designed to raise insurance rates to reflect true flood risk and stabilize the National Flood Insurance Program.
Florida’s homeowners hold 37 percent of the nation’s flood insurance policies and have contributed more than $16 billion in payments since 1978. Florida claims, however, have only totaled $3.7B during that time. Beginning October 1, home buyers, businesses and second home owners could face significant increases in flood insurance premiums. More than 250,000 property owners could be affected by these changes.
With many communities impacted by the Biggert-Waters Act, FAC’s Executive Committee approved the issue as a federal advocacy priority for the Association during the FAC Policy Conference last week. In his letter, President Desloge requested that Congress delay implementation of measures in the Act until a review of the financial and economic impacts could be fully evaluated. FAC staff will meet with FEMA officials and members of Congress about county concerns next week while in Washington, D.C.
For more on the Biggert-Waters provisions, visit http://www.fema.gov/flood-insurance-reform-act-2012. To read a copy of FAC’s letter to Congress, visit http://www.fl-counties.com/advocacy/federal.