Fla. Lawmakers Advance Bill To Spur Private Flood Insurance

Law360, Miami (January 8, 2014, 8:12 PM EST) -- The Florida Senate Banking and Insurance Committee unanimously passed a bill Wednesday that aims to address hikes in flood insurance premiums expected from changes to the National Flood Insurance Program by encouraging the growth of a private market in Florida.

S.B. 542, introduced by Sen. Jeff Brandes, R-St. Petersburg, appears likely to get fast-track treatment from state lawmakers, who remain unsure of whether Congress will take steps to delay hikes included in the Biggert-Waters Flood Insurance Reform Act of 2012.

“Hoping that Congress will act is...
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