The Federal District Court in Gulfport may consider staying aspects of the planned National Flood Insurance Program rate hikes imposed by a 2012 law until the litigation is resolved or affordability studies are concluded, a senior research attorney at the University of Mississippi concluded in a new paper.
The court may find less flexibility to alter certain changes mandated by the law, the Biggert-Waters Act of 2012, such as the issuance of new policies at full-risk rates, the analysis states. This particular change has been cited as an impediment to housing sales, the paper notes.
Niki Pace, an adjunct professor with the Mississippi-Alabama Sea Grant Legal Program, based at the University of Mississippi Law School, says her analysis is contingent on the court ruling in favor of the states who brought the suit on several procedural issues. Her analysis was first published Thursday on Law360.
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