Rep. Steve Scalise (R-LA) News Release
"The devastation caused by Hurricane Ida and the long road to recovery in its aftermath have placed difficult burdens on
"We have seen flood insurance rate spikes in
You can find the text of the letter below.
Dear Administrator Criswell:
"As Louisianans struggle to put their lives and communities back together after Hurricane Ida, the last thing they need to see is an increase in the rates they are charged to keep their National Flood Insurance Program (NFIP) policy. Unfortunately, that's precisely what is on the horizon: when Phase I of Risk Rating 2.0 begins on
"In numerous hearings, calls, letters, and briefings,
"Although
"Under the maximum allowable rate cap and starting at today's rate, this policyholder would have seen consistent premium increases for 14 years before they hit their 'actuarial rate.' Even if you adjust the math to allow for the 'average' annual NFIP rate increase of 7 percent per year, this homeowner would have expected to see yearly increases beyond the life of their 30-year mortgage. Of course, it is obvious that the rate increases would continue well beyond that, as over the decades,
"
"Once again, we urge you to delay the implementation of Risk Rating 2.0 until such a time that
Read this original document at: https://scalise.house.gov/media/press-releases/scalise-graves-urge-fema-delay-risk-rating-20
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