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Bill Would Delay NFIP Rate Hikes for Sandy Victims; Program's Sandy Losses Said to Be $7B

A bill in the House introduced by New York State representatives, would extend the grace period for flood-insurance-premium increases for Superstorm Sandy victims.

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A bill in the House introduced by New York State representatives, would extend the grace period for flood-insurance-premium increases for Superstorm Sandy victims.

The legislation was introduced as information became available that the cost of Sandy to the National Flood Insurance Program will be in the neighborhood of $7 billion.

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