flood-insurance2.805 min read States Take Legal Action Against FEMA Over Flood Insurance Rate Hikes
Louisiana and nine other states filed a lawsuit against the federal government to block sharp increases in national flood insurance rates that are slated to be phased in over the coming years, saying the steeper price could cost some people their homes and businesses. FEMA has said its new premium system is an improvement over past methods, but Louisiana officials have been complaining for months about the coming rate hikes, saying they could impose impossible financial burdens on some in the state. Increases are capped at 18% annually, but when they are fully implemented, some residents will be paying significantly more.
2 years ago•Source: CBS News
