Flood insurance changes run into resistance

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Associated Press

Posted on July 3, 2013 at 6:02 AM

Updated Wednesday, Jul 3 at 6:02 AM

WASHINGTON (AP) — Protests from homeowners facing higher flood insurance premiums because of changes in a federal program are inspiring coastal lawmakers to press for delays that would preserve subsidized, below-cost rates for hundreds of thousands of people in flood-risk areas.

The government can't say how many people could confront higher premiums, but homeowners in places like Staten Island, N.Y., the battered New Jersey coast and low-lying areas of Louisiana, Florida and Texas face the prospect that new government surveys could produce flood insurance premium increases so big that they could be forced from their homes.

The federal flood insurance debate is at the intersection where rooting out waste and abuse runs into real-world effects on people. The new system is designed so taxpayers won't have to keep bailing out the program.

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