Bill To Delay Flood Insurance Requirement Unveiled

Law360, New York (June 18, 2010, 5:35 PM EDT) -- Three U.S. House of Representatives members from New York have proposed a bill that would delay a requirement that property owners buy flood insurance by five years, as the Federal Emergency Management Agency updates its flood map program.

Reps. Maurice Hinchey, Michael Arcuri and Scott Murphy, all Democrats from New York, introduced the Flood Insurance Fairness Act of 2010, or H.R. 5559, on Thursday.

The National Flood Insurance Program requires property owners in flood-risk zones to buy U.S.-subsidized flood insurance if they have a federally backed...
To view the full article, register now.