Insurance

Insurance

Manchin Statement on Need to Protect Homeowners from Drastic Flood Insurance Increases

U.S. Senator Joe Manchin (D-W.Va.) today announced he supports the “Homeowner Flood Insurance Affordability Act” to protect homeowners from paying drastically higher flood insurance costs under the revised version of the National Flood Insurance Program. This legislation, cosponsored by 28 additional Senators, would delay changes to the insurance program overseen by the Federal Emergency Management Agency (FEMA) until the agency can finish an affordability study required by the “Biggert-Waters Act.” It would also provide Congress eighteen months to review any new regulations FEMA may propose once the study is complete.

Rahall Introduces Legislation to Halt Flood Insurance Rate Increases

U.S. Rep. Nick J. Rahall is introducing legislation today that would suspend the flood insurance rate increases that millions of homeowners are now subject to. At the beginning of the month, participants in the National Flood Insurance Program saw dramatic increases their premiums as a result of Biggert-Waters Flood Insurance Reform Act of 2012. However, the law took effect while Flood Insurance Rate Maps (FIRMs), which are used to determine flood insurance rates, are in the process of being updated nationwide. Rahall’s bill, HR 3380 would freeze the insurance hikes until the updated maps are finalized and would reimburse homeowners that are paying higher premiums in the interim.

Learn Ways To Protect Your Home From Future Disasters

BEAVER, WV - April 26, 2010 - (RealEstateRama) -- Repairing or rebuilding a flood-damaged home? Working on ways to make your home more disaster-resistant? Have questions about flood insurance?

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Attorney General Morrisey Protects Property Rights in Supreme Court Victory

West Virginia Attorney General Patrick Morrisey claimed victory in efforts to protect the rights of property owners against the federal government with a unanimous decision from the U.S. Supreme Court.

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HUD AWARDS $500 MILLION TO HELP LOUISIANA, TEXAS & WEST VIRGINIA...

U.S. Housing and Urban Development (HUD) Secretary Julián Castro today awarded a total of $500 million to help Louisiana, Texas and West Virginia to recover after severe flooding events that occurred earlier this year. Provided through HUD’s Community Development Block Grant – Disaster Recovery (CDBG-DR) Program, these recovery funds will assist the most impacted communities that experienced the most serious damage to their housing stock.