Miss. Regulator Sues US Over Flood Insurance Rate Hikes

Law360, New York (September 27, 2013, 3:29 PM EDT) -- Mississippi's insurance regulator sued the U.S. government Thursday to halt rate hikes on policies backed by the National Flood Insurance Program, just days before the premium increases are set to take effect.

Fighting against rate increases as high as 3,000 percent, Mississippi Insurance Commissioner Mike Chaney filed a complaint in Mississippi federal court against the Federal Emergency Management Agency, the agency that oversees the NFIP. He brought the suit as some federal lawmakers, state officials and insurance groups continue to fight the rate increases required under...
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