Economics

Prepared by Heriberto Martinez, PCP
Voluntary Agency Liaison Deputy Group Supervisor
Federal Emergency Management Agency

New York Hurricane Sandy
Grants Information: Funders, Resources, and Grant Writing Tool February 10, 2014

(CLICK ON ATTACHMENT BELOW - 154 page Word document)

insurancejournal.com - by Andrew G. Simpson - January 7, 2014

The U.S. Senate is expected to take a key vote soon on a bill that would delay some of the flood insurance rate hikes triggered by the Biggert-Waters Flood Insurance Reform Act of 2012. . .

. . . The procedural vote on S.1846 was originally planned for Wednesday, but the Senate is still dealing with an extension of federal unemployment benefits, delaying consideration of the flood bill. U.S. Sen. Mary Landrieu (D-La.), a major advocate for the bill, told USA Today that  “next week is more realistic” for any vote on the flood bill.

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The new map could put twice as many homes in the flood zone and raise premiums for many homeowners.

propublica.org - by Al Shaw - June 12, 2013

. . . while Sandy’s water has long receded and the bulldozers have left, a residual effect for homeowners along the city’s coastline still lurks quietly beneath the surface. It comes in the form of a July 2012 law called the Biggert-Waters Act, which will end subsidized rates for property owners who are remapped into more severe flood zones, increasing their flood insurance premiums 20 percent a year until they reach market rates, and will apply those higher rates for newly purchased property.

The potential increases, which proponents say are necessary to sustain the National Flood Insurance Program, are not widely understood by residents, and may be catching them unprepared.

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Biggert-Waters Act - Flood Insurance Reform Act of 2012