Say New Maps Could Cut Flood Insurance Costs

Washington–The Homeowners could potentially see reductions in their flood insurance premiums if the outdated U.S. maps used to determine flood risks are updated, a witness told a House subcommittee today.

In the United Kingdom as a result of old flood maps being revised it is estimated more than 500,000 properties now qualify for insurance, or will benefit from reduced premiums, said Michael Bullock, president of Intermap Federal Services Inc.

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