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Louisiana says if residents were forced to pay the true cost of flood protection, few would live there

Summary by Ground News

Louisiana and nine other states filed a lawsuit against the federal government to block sharp increases in national flood insurance rates. A phase-in of the new rates began in 2021. Annual increases are limited to 18%. The Federal Emergency Management Agency said the new method of computing rates has resulted in reductions or little or no increase for most policy holders.

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Louisiana says if residents were forced to pay the true cost of flood protection, few would live there

It's one of 10 states asking a federal judge to block changes in National Flood Insurance Program.

2 years ago·New York, United States

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Fortune broke the news in New York, United States 2 years ago on Thursday, September 14, 2023.

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