Congress is currently deflecting intense pressure to roll back virtually all the increases in flood insurance premiums imposed by a 2012 National Flood Insurance Program reauthorization law that won strong support when it was enacted.
Amongst the opponents of the rollback are Write-Your-Own (WYO) insurance companies, who have already adjusted computer programs rate increases effective Oct. 1, per a provision in the law impacting second homes, businesses, and repetitive loss properties, plus the existing (pre-FIRM) properties that would lose their grandfathering upon resale or refinancing.
At the moment, congressional leadership is apparently supporting efforts to delay for one year premium rate increases imposed on properties if they are remapped.
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