The Florida Senate will try to entice private insurance companies to sell flood policies in the Sunshine State to homes that are vulnerable to storm surge.
Florida is responsible for about third of the policies written under the National Flood Insurance Program. This session, state lawmakers are moving bills forward that they hope will entice private insurance companies to sell flood policies in the state.
Homeowners in flood-prone neighborhoods across the country will see relief from big insurance increases when President Barack Obama signs a bipartisan bill Friday.
Congress passed a bill scaling back flood insurance premium increases, allowing below-market insurance rates to be passed on to people buying homes.
A bipartisan agreement has been reached between House and Senate leaders that will delay federal flood insurance program changes that would have resulted in huge spikes in premiums for homeowners, according to CBS4 news partner the Miami Herald.
Miami-Dade County Commissioners are fighting back against large impending rate hikes for flood insurance.
The Sunshine State will back Mississippi in a lawsuit over flood insurance rates, but Florida will not file its own lawsuit.
Thousands of homeowners across Florida are set to see major increases in their flood insurance costs if the federal government doesn’t act to delay or cancel the rise in rates.
The Mississippi Department of Insurance filed a lawsuit against the federal government Friday that Floridians should pay special attention to if they own a home or may be buying a home soon.
Gov. Rick Scott is advising Sens. Bill Nelson, D-Fla., and Marco Rubio, R-Fla., that action is needed to ward off “the potential impact to Florida’s economy” of the Biggert-Waters Flood Insurance Reform Act.