Fla. Sen. Floats Bill Encouraging Private Flood Insurance

Law360, Miami (December 17, 2013, 8:22 PM EST) -- A Florida state senator filed a bill Tuesday aimed at alleviating rate hikes on policies backed by the National Flood Insurance Program by allowing private insurers to offer flood insurance polices to homeowners in the state.

Florida Sen. Jeff Brandes, R-St. Petersburg, filed S.B. 542, meant to encourage private insurers to write flood policies for Florida homeowners in the wake of rate hikes as high as 3,000 percent that took effect on Oct. 1 as part of the Biggert-Waters Flood Insurance Reform and Modernization Act of...
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