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Expert Analysis

Can Miss. Hold Back The Flood Insurance Rate Hikes?

Law360, New York (December 19, 2013, 6:36 PM EST) -- Days before significant changes to domestic flood insurance took effect, the Mississippi Insurance Commissioner filed suit against the U.S. Department of Homeland Security and the Federal Emergency Management Agency essentially seeking to halt rate increases mandated by congressionally enacted flood insurance reform. Since then, Mississippi's lawsuit has been joined by Florida, Alabama, Massachusetts, South Carolina, Louisiana, a local Mississippi county and the Mississippi Windstorm Underwriting Association. At issue is whether the economic impacts and affordability of these reforms should have been taken into account prior to initiating the rate changes....

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