Miss. Says Halting Flood Insurance Hikes Would Benefit FEMA

Law360, New York (December 6, 2013, 6:38 PM EST) -- Mississippi Insurance Commissioner Mike Chaney on Thursday attacked the Federal Emergency Management Agency's attempt to end his lawsuit challenging steep rate hikes planned for the National Flood Insurance Program, arguing that FEMA itself would benefit from an injunction on the premium increases.

The Mississippi insurance regulator took issue with FEMA's claim in a recent motion to dismiss the suit that the Biggert-Waters Flood Insurance Reform and Modernization Act did not require the agency to carry out an affordability study before raising rates.

Biggert-Waters introduced the premium increases...
To view the full article, register now.

UK Financial Services

UK Financial Services

Read Our Latest UK Financial Services Coverage

Financial Services Law360 UK provides breaking news and analysis on the financial sector. Coverage includes UK and European Union policy, enforcement, and litigation involving banks, asset management firms, and other financial services organizations.