Congress needs to defer NFIP rate increases, La. regulator says

09/24/2013 | Times-Picayune (New Orleans), The

Congress should act to delay the "draconian rate increases" under the National Flood Insurance Program for a year or more, said Jim Donelon, Louisiana's insurance commissioner. Supporters have said that the Biggert-Waters Act mandates such increases to make the program actuarially sound, but Donelon said the legislation "threatens to devastate our economy and make thousands of properties valueless."

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Times-Picayune (New Orleans), The

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