I want FEMA to conduct the affordability study they were mandated to do by Congress when the Biggert-Waters Act of 2012 was passed and signed into law. This study should have been completed by now, but FEMA said they needed more time. It doesn’t make sense for these rates to implemented, especially when the impacts of Biggert-Waters are not fully understood and could ultimately force people out of their homes due to dramatic increases in the costs of premiums.
Eventually, the program should be abolished. I do not believe it is the government’s responsibility to manage flood insurance for the entire nation. The ultimate goal should be allowing the free market to step in and provide this service.
For more information concerning my work and views related to Flood Insurance, please contact me.
I look forward to hearing from you.