After months largely silent on the issue,Louisiana Gov. Bobby Jindal is urging congressional leaders to stop higher flood insurance premiums from hitting homeowners and businesses.
Jindal sent a letter to the Republican and Democratic leaders of both the U.S. House and Senate, asking them to support an immediate delay in the increases set in motion by a 2012 revamp of the federal flood insurance program.
The Republican governor described the insurance rate hikes that were tied to the program overhaul as “irrational, not actuarial.”
It was Jindal’s first public and direct intervention to seek relief from the steep rate increases. Other state officials and business leaders have warned for months that soaring premiums could severely damage local economies.
About 480,000 Louisiana homes and businesses have federal flood insurance.
Was this article valuable?
Here are more articles you may enjoy.
Freight Broker Says $400K in Lobster Meat Stolen in Fictitious Pickup 
Howden Buys M&A Insurance Broker Atlantic Group in US Expansion 
Relief But Questions on Agents’ Duties to Insureds After Florida Court Ruling 
2 New Jersey Pilots Killed in Helicopter Collision Frequented Nearby Cafe Together 
