It will be extremely difficult for Congress "to delay a train that is nearing its destination," an insurance industry executive says in reaction to the flurry of legislative efforts to forestall flood insurance rate hikes mandated under a 2012 law.
The official says the Federal Emergency Management Agency has been working since February to change computer software to reflect the rate changes imposed by the Biggert-Waters Act.
"The renewal notices will start going out on July 1, and we expect this to trigger an exponential increase in the number of complaints to members of Congress," the official notes.
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