Rumored Delay in Flood Insurance Increases
You may have read some media accounts about a delay in the flood insurance rate increases.
It is true that there are bipartisan sponsors for national legislation which would delay these increases for four years, and pretty much “gut” the current law in place. However, this new legislation has yet to be introduced and Senate and House Leadership may not allow it to be introduced. We do not know yet. There are certainly opponents to this bill, mostly “business” and insurers.
In short, any delay to the current flood insurance requirements has an uphill climb.
Please continue to conduct your business being mindful of the current law and regulations. Relief is not YET in sight and STILL highly uncertain at this time, but please stayed tuned.