NEW ORLEANS - A federal judge holds a hearing Sept. 14 in a case over the Federal Emergency Management Agency's (FEMA) new Risk Rating 2.0 system that determines flood insurance rates.
Louisiana is one of nine states suing FEMA over RR 2.0, which has driven insurance premiums to near-astronomical levels for homeowners in south Louisiana. It calls on FEMA, which oversees the National Flood Insurance Program (NFIP), to halt the changes and return to the drawing board.
The hearing will examine the states’ request for a preliminary injunction halting the new policy and FEMA’s call to dismiss the case. It will be held in New Orleans' federal court for the Eastern District of Louisiana, though an immediate ruling appears unlikely in the complex case. Flood insurance hikes set for scrutiny in key court hearing | Environment | nola.com
Raising and fortifying roofs in La.
Louisiana Insurance Commissioner Jim Donelon says that on Oct. 2, state will begin accepting grant applications for a new fortified roof program that will make roofs stronger and (allegedly) lower homeowners' insurance premiums.
About 132,000 people who have homeowners policies through Louisiana’s insurer of last resort (Citizens) will be eligible to apply for $10,000 grants to strengthen their roofs.
Only 500 grants will be given away in Round #1 of funding. They expect nearly every grant will be for the maximum amount because strengthening roofs typically cost a lot more than that.
The Legislature set aside $30M for the program (so, about 3K policyholders could benefit). Half will go to Citizens' policyholders. Want to fortify your roof? Louisiana program begins Oct. 2 | Business News | nola.com (NOLA.com 09/14/23)
No comments:
Post a Comment