House GOP leaders delayed a vote this week on legislation that would delay
increases in some flood insurance premiums, raising questions about whether
there's enough support to pass it.
The bill's proponents expect a vote next week and are working to build support.
"We want all the members to have an opportunity to absorb it," said Rep. Steve
Palazzo, R-Miss. "There's already been some good positive changes from not
rushing the bill."
House Majority Leader Eric Cantor of Virginia said earlier this month the
House would vote on a "modified" flood insurance bill this week. Leaders had
considered bringing up the bill under a suspension of the rules, meaning it
would require two-thirds support to pass.
The Senate approved legislation last month to delay by four years flood
insurance cost increases for some homeowners called for under the Biggert-Waters
Act of 2012. During the delay, the Federal Emergency Management Agency would
complete a study of how to make the higher rates affordable.
Earlier this week, Sen. Mary Landrieu, D-La., expressed reservations about a
provision in the House measure that would cap insurance cost increases at 15
percent a year.
"If this '15-percent annual average' is a national average and not set for
individual properties, rates could actually increase higher than under
Biggert-Waters," Landrieu said. "While time is of the essence to bring needed
relief now to thousands of homeowners in communities throughout the country,
rushing a bill through on the suspension calendar without this provision
clearly understood could put us back in the precarious situation we are now
trying to get out of."
What It Means to Agents:
PIA strongly supports the National Flood Insurance Program (NFIP) because
it offers critical support to those affected by floods and provides the
coverage that the private market is unable to insure. PIA supports the
ongoing implementation of BW-12, along with risk-based rates that take
consumer affordability into consideration. In light of the significant
financial hardship for some policyholders who have seen drastic rate
increases, PIA supports and strongly advocates for specific mitigation-related
solutions that could lead to affordable premiums. PIA remains concerned
that delaying actuarially sound rates, while providing much-needed relief
for many homeowners, does not address the long-term problem.
As an agent, you may not always know where to begin when you sit down to write a
blog post for your website. I know first-hand how tough it can be! However, there
is no need to overthink it. There is plenty to be said about insurance—and plenty
of ways to educate your audience. While a creative and fun post is a great way to
break up the monotony of insurance, sometimes all it takes is a well thought-out
educational article. In fact, most of your visitors may be looking for answers.
After all, they are there to make a
purchase—why not help them to make a smart
Read the rest of this article by Kathy Bye of the Bye Insurance Agency here:
Educating Your Audience, One Blog Post at a Time
Join the Louisiana Surplus Line
for its 2014 Annual Convention
Plan to join the Louisiana Surplus Line Association for its 2014 Annual
Convention on April 2 - 4, 2014 at the Beau Rivage in Biloxi, MS.
Speakers include Brady Kelley, Executive Director of NAPSLO, Insurance
Commissioner Jim Donelon, Kevin Donoghue of Mystic Capital Advisors Group
and Emily Huling of Selling Strategies. For complete details and to register