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.
GEICO Can’t Slip Out of SC Lawsuit That Says it Owes $70M in Taxes and Penalties 
Lawsuit Alleges Farm Bureau Financial Concealed Fraudulent Activities 
Ex-Lloyd’s CEO Lost $17 Million AIG Job After Office Romance 
Lloyd’s Probing Conduct of Ex-CEO Who Had Been Set to Join AIG 
