National Flood Insurance Program
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.
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.
The Sunshine State will back Mississippi in a lawsuit over flood insurance rates, but Florida will not file its own lawsuit.
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.
With the start of hurricane season just days away, South Florida homeowners that are in the National Flood Insurance program should know that there are changes are on the way.
Florida Governor Rick Scott has been put on notice that homeowners and businesses across the state will lose access to the federal Flood Insurance program if he signs a bill now on his desk which would change the way local governments issue building permits.