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House Passes U.S. Flood-Insurance Rate Bill Backed by Realtors

      

Manuel Sanchez takes in the view of his flooded home and property on September 14, 2013 in La Salle, Colorado. Photographer: Marc Piscotty/Getty Images

businessweek.com- by James Rowley - March 4, 2014

The U.S. House passed legislation trimming premiums for government-sponsored flood insurance

The measure would limit premium increases to 18 percent per policy or 15 percent of an average of premiums in a particular flood zone.

The House bill, H.R. 3370, must be reconciled with legislation passed by the Democratic-controlled Senate that House Republican leaders said would roll back too many of the 2012 law’s changes. The Senate bill is S. 1926.

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