Flood Insurance Bill Would Revamp Rates

Law360, New York (March 18, 2009, 12:00 AM EDT) -- A California lawmaker has introduced a bill in the U.S. House of Representatives that would amend the National Flood Insurance Act to take local and state investments in flood protection into account when determining the insurance rates in high-risk coastal communities.

On Monday, U.S. Rep. Doris Matsui, D-Calif., introduced H.R. 1525, which would require the Federal Emergency Management Agency to incorporate local and state flood protection improvements when designating the flood zones for communities — which ultimately determine flood insurance rates.

The National Flood Insurance Act...
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