Gov. Scott asks President for flood insurance relief - WNCT

Gov. Scott asks President for flood insurance relief

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Flood insurance premiums have risen dramatically for many property owners. Flood insurance premiums have risen dramatically for many property owners.
Flood insurance premiums have risen dramatically for many property owners. Flood insurance premiums have risen dramatically for many property owners.
PINELLAS COUNTY, FL (WFLA) - Governor Rick Scott met with President Barack Obama Monday to ask him to halt flood insurance increases under the Biggert-Waters Act.

Under the law, which took effect late last year, coastal property owners no longer benefit from federal subsidies on flood insurance. Flood insurance premiums rose dramatically for many property owners.

"There's no indication he's going to do anything. He's waiting on the House and Senate and they talk but there's no action," said Governor Scott.

Congress has been debating whether to change the 2012 overhaul of the federal flood insurance program, but so far no agreement has been reached.One proposal would be to delay the premium increases until FEMA can conclude a number of actuarial studies.

The Senate has passed a version, and now the House has it's own version.  The latest bill, that could hit the floor as early as Wednesday, would limit premium increases, and allow low rates to be passed along to a buyer.  It would also include a $25 dollar assessment which would go into a reserve fund to keep the program solvent.

"I'm very hopeful this will get done this week at least in the house. There's a slight possibility if we can get the Senate on board it would get passed out this week and get it to the President," said U.S. Rep. Gus Bilirakis, R-FL. Congressman Bilirakis said it would take bi-partisan support to pass.

Homeowner Chris Dailey is hopeful Washington is finally listening and he won't have to pay a big hike when his insurance renewal comes in April. He lives in St. Petersburg's Shore Acres neighborhood of modest homes. "There are 290 co-sponsors in the House and Senate that have signed on to this latest bill modification and that's a lot of people. I think the traction is there, I  think something's going to happen," said Dailey.







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