NEW ORLEANS — Louisiana and nine other states filed a lawsuit against the federal government Thursday to block sharp increases in national flood insurance rates that are slated to be phased in over the coming years, saying the steeper price could cost some people their homes.
Dozens of local Louisiana governments and flood control districts also are plaintiffs in the lawsuit, which was filed in U.S. district court in New Orleans. The Department of Homeland Security and the Federal Emergency Management Agency are among the defendants.
Louisiana Attorney General Jeff Landry joined several local officials and business leaders at a news conference announcing the suit Thursday morning.
FEMA declined comment in an email, citing a policy of not commenting on pending litigation.
At a CAGR of 58.5% Decentralized Insurance Market is projected to reach $135.6 billion by 2032
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