Fla. Senate Passes Bill To Boost Private Flood Insurance

Law360, Miami (March 26, 2014, 7:11 PM EDT) -- The Florida Senate unanimously passed a bill Wednesday that aims to encourage the growth of a private flood insurance market in the face of concerns that policy changes in Washington could have damaging effects on the state's real estate market.

Sen. Jeff Brandes, R-St. Petersburg, introduced S.B. 542 in January amid uncertainty over whether Congress would take steps to delay potentially drastic rate hikes included in the Biggert-Waters Flood Insurance Reform Act of 2012.

While President Barack Obama signed the Homeowner Flood Insurance Affordability Act on...
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