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FEMA Urged to Address ‘Huge Rate Hikes’ Stemming from NFIP Bill

Members of Congress are demanding that FEMA finesse the impact of steep flood insurance premium increases mandated by a 2012 law even as a key government watchdog lauded the agency's efforts to ensure that rates reflect risks.

By Arthur Postal | Updated on August 01, 2013
Members of Congress are demanding that FEMA finesse the impact of steep flood insurance premium increases mandated by a 2012 law even as a key government watchdog lauded FEMA for its efforts to ensure that flood insurance rates reflect risks.

In a little-noticed recommendation to another report on flood insurance issues, the Government Accountability Office on July 3, 2013 praised FEMA for taking steps to ensure the “methods and data used to set NFIP rates accurately reflect the risk of losses from flooding.” GAO says it “continues to support previous recommendations to FEMA in that regard.”

The GAO recommendation was released the same day Rep. Maxine Waters, D-Calif., ranking minority member of the House Financial Services Committee and a key sponsor of the 2012 bill, joined 26 colleagues in a letter to FEMA urging the agency “to use discretionary authority to address an unintended consequence” of the Biggert-Waters Flood Insurance Reform Act, the 2012 bill.

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