Filed Under:Agent Broker, E&S/Specialty Business

FEMA Urged to Address 'Unintended Consequence' of Last NFIP Bill: Huge Rate Hikes

Members of Congress are demanding that the Federal Emergency Management Agency finesse the impact of steep flood insurance premium increases mandated by a 2012 law even as a key government watchdog lauded FEMA for its efforts to ensure that flood insurance rates reflect risks.

In a little-noticed recommendation to another report on flood insurance issues, the Government Accountability Office Wednesday praised FEMA for taking steps to ensure that the “methods and data used to set NFIP rates accurately reflect the risk of losses from flooding.”

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