Sen. Cassidy Discusses Risk Rating 2.0 With River Region Leaders

NEW ORLEANS, Louisiana, Aug. 24 -- Sen. Bill Cassidy, R-Louisiana, issued the following news release:

U.S. Senator Bill Cassidy, M.D. (R-LA) met with Parish Presidents, Mayors, legislators and chamber leaders from across the River Region on Risk Rating 2.0, and its impact on flood insurance policyholders in the region. He discussed his efforts to stop the Biden administration from implementing Risk Rating 2.0.

"The only way our workers can keep goods flowing down the Mississippi River is if they can afford to live here," said Dr. Cassidy. "We will work every day to fix Risk Rating 2.0, so they can build a life in Louisiana."

The Louisiana delegation was successful in pushing the Trump administration to delay Risk rating 2.0 in 2020. But now the Biden administration has chosen to move forward with Risk Rating 2.0, with no input from Congress, despite analysis that it will cause up to 20 percent of policyholders to drop coverage. Congress has not passed any law requiring the administration to implement rate hikes. President Biden can roll back Risk Rating 2.0 with the stoke of a pen.

Cassidy has worked with colleagues to make flood insurance affordable. In March, he introduced the Homeowners Flood Insurance Transparency and Protect Act, which would allow National Flood Insurance Program (NFIP) policyholders to maintain their current rates until FEMA can meet certain accountability measures. He also introduced bipartisan legislation to require FEMA to publish the formulas used to calculate mitigation credits for policyholders under Risk Rating 2.0. This is all in the wake of FEMA's acknowledgment that Risk Rating 2.0 could cause 20% of policyholders to drop out of the NFIP due to skyrocketing premiums.

Among others, Cassidy was joined by Ms. Chassity McComack, Executive Director of the River Region Chamber.

"We are truly grateful for Senator Cassidy and his staff taking the time to talk with our members and parish leaders on this legislation," said Ms. McComack. "With flood protection being at the top of our priorities list, it's important to keep in tune with the facts and how this legislation will impact residents and our business communities."

Earlier, Cassidy toured Fletcher Technical Community College, where he learned what they need to fully recover from Hurricane Ida. He also saw that Fletcher is doing to train new workers for the maritime industry.

"Fletcher is doing an incredible job training the workers we need to support industry in Louisiana, and even had an increase in enrollment despite Hurricane Ida," said Dr. Cassidy. "I will continue to help them fulfill their mission."

Cassidy was joined by Ms. Kristine Strickland, Chancellor of Fletcher Technical Community College.

"We are excited to welcome Senator Cassidy to Fletcher Technical Community College," said Chancellor Strickland."Senator Cassidy has always been a tremendous supporter of community college education and we are honored to be included in his visit to the Bayou Region. We appreciate that Senator Cassidy took time, as we approach the one-year anniversary of Hurricane Ida, to tour our Thibodaux campus and visit with students as we continue our recovery. We were also happy to share our plans to expand maritime education for our state. Senator Cassidy's support means a great deal in our ability to not only recover but grow economic prosperity in the region.

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Original text here: https://www.cassidy.senate.gov/newsroom/press-releases/cassidy-discusses-risk-rating-20-with-river-region-leaders