Cassidy Comments on FEMA Flood Insurance Rate Tables Released Today

Statement

Today, in response to Congressman Bill Cassidy's (R-LA) letter on July 15, 2013, FEMA released to the public its flood insurance Specific Rate Guidelines. These guidelines will determine flood insurance rates for certain Louisiana homes and businesses. FEMA has made its flood insurance rate process more transparent by publishing their rate tables. With flood insurance rates projected to sky-rocket, Louisiana families deserve to know how their rates are calculated. It is important to note that these rate tables do not apply to "grandfathered" properties, which could see rate increases when a Flood Insurance Rate Map containing the property is either adopted or updated.

Congressman Cassidy released the following statement:

"The Cassidy Amendment adopted by the U.S. House Representatives prevents rate increases for grandfathered properties. This is especially critical as FEMA begins to fully implement its LAMP (Levee Analysis and Mapping Procedure) process. FEMA, through LAMP, needs to ensure appropriate credit is given to community flood protection standards and features that offset flood risk and therefore reduce the cost of flood insurance for Louisiana homes and businesses.

"I will continue to push for long-term solutions surrounding the challenges of the National Flood Insurance Program that balances fiscal solvency with consumer affordability."

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