Mississippi Senators among those wanting FEMA to scrap Biden-era flood insurance premiums

In Mississippi, the Senators say it is estimated that 84% of Mississippi NFIP policyholders experienced monthly premium increases in 2025.

Mississippi's U.S. Senators are joining an effort to demand that the Federal Emergency Management Agency (FEMA) end Risk Rating 2.0, the Biden-era flood insurance policy they say has caused premiums to skyrocket and thousands of homeowners to abandon their policies.

Senators Roger Wicker (R) and Cindy Hyde-Smith (R) signed on to the letter to FEMA led by Louisiana Senator Bill Cassidy (R). Senators from West Virginia, Alabama and Texas also signed the letter.

"Since the Biden Administration's rollout of Risk Rating 2.0, premiums under the National Flood Insurance Program (NFIP) increased in every state. By FEMA's own estimates, 77 percent of all NFIP policies now pay more than under the old system," the Senators wrote.

In Mississippi, the Senators say it is estimated that 84% of Mississippi NFIP policyholders experienced monthly premium increases in 2025 as a result of Risk Rating 2.0.

"As of August 2023 (the latest available FEMA data), Risk Rating 2.0 would increase annual NFIP premiums for homeowners in Mississippi by ~103%," the letter outlines. "Over the last 12 months, ~2,200 Mississippians have left the NFIP as a result of premium increases."

The Senators contend that FEMA has never allowed for meaningful public comment nor has it published the underlying data or assumptions used to justify the steep premium increases and refuses to disclose its actuarial model.

The group is asking Acting Administrator David Richardson to terminate the Risk Rating 2.0 pricing methodology and require FEMA "to publish all actuarial inputs and outputs of future flood insurance premium increases exceeding the 5% statutory minimum so stakeholders can verify fairness and accuracy."

They also want FEMA to restore targeted affordability measures for coastal, low income, and historically underinsured communities—ensuring NFIP remains accessible to those who need it most.

"Time is of the essence. Each month that Risk Rating 2.0 continues unchecked, more families are forced to abandon their insurance coverage, neighborhoods face economic strain, and entire communities risk collapse after the next disaster," the Senators said.

Hurricane season began June 1, further raising concerns for those in coastal Mississippi.

-- Article credit to Frank Corder for the Magnolia Tribune