County Commissioners urge Congress to prevent flood insurance rate increases
(MIAMI) – The Miami-Dade Board of County Commissioners today adopted a resolution sponsored by Chairwoman Rebeca Sosa urging Congress to prevent flood insurance premium rate increases that are due to take effect as a result of the Biggert-Waters Flood Insurance Reform Act of 2012.
“If we don’t stop these huge rate increases from happening, many South Florida homeowners will be at risk of losing their homes,” Chairwoman Sosa said.
Without action by Congress, the Biggert-Waters Act – which was designed to address instability in the National Flood Insurance Program – will result in flood insurance premium increases of 25 percent per year for large categories of property owners.
Chairwoman Sosa’s resolution calls for Congress to back proposed legislation to delay any premium increases for three years in order to give the Federal Emergency Management Agency (FEMA) time to conduct an affordability study.
For more information about the resolution, please contact Chairwoman Sosa’s office at 305-375-4696.