The National Conference of Insurance Legislators has agreed to to join
the fight against the federal flood insurance program overhaul that
has caused several Louisiana homeowners to see the payments for their
properties' coverage skyrocket in recent weeks.
A five-person delegation from Louisiana convinced most of the group
— made up of legislators who sit on state insurance committees
around the country — to call for a delay in the Biggert-Waters
Flood Insurance Reform Act.
Passed by Congress in 2012, Biggert-Waters sought to bring stability
and financial solvency to the National Flood Insurance Program. But
opponents complain it has led to unaffordable rate increases and could
render entire communities of homes unsellable. In Louisiana, some
people have seen their flood insurance premiums go from a few hundred
dollars per year to more than $10,000 annually.
Sen. Dan "Blade" Morrish, R-Jennings, said the resolution to delay
Biggert-Waters was approved by more than two-thirds of the delegates
at the insurance legislators' annual meeting on Friday (Nov. 22).
Supporters included representatives from New York, New Jersey,
Vermont, North Dakota, South Dakota and Massachusetts.
"There was bipartisan support and it wasn't regional by any means,"