Wednesday, May 15, 2013
Measure would have delayed hikes for five more years
An amendment aimed at halting federal flood insurance rate hikes for five years has been blocked in the U.S. Senate. The amendment, introduced by Sen. Mary Landrieu (D-La.) was blocked from coming to a vote Tuesday by Sen. Pat Toomey (R-Pa.). Amendments in the U.S. Senate require what is known as "unanimous consent" before a vote can take place, meaning a single member can block a vote from occurring. Toomey told the New Orleans Times-Picayune Tuesday that he objected to changing reforms put in place last year because he supports the move to "diminish the subsidization that occurs now where homeowners in low-risk areas are made to subsidize in high-risk areas." Landrieu, the newspaper reported, said she will likely reintroduce the …
Monday, May 13, 2013
'Triple whammy' for Shore residents, Menendez says on U.S. Senate floor
U.S. Senator Bob Menendez threw Shore residents a virtual lifeline Thursday, delivering an address on the Senate floor where he urged colleagues to support an amendment to federal legislation that would stop flood insurance rate hikes, at least in the short term. Menendez (D-N.J.) spoke in favor of an amendment to the Water Resources Development Act which would stop flood insurance premiums from rising until FEMA completes its study on the affordability of premiums of the National Flood Insurance Program. Shore homeowners face annual flood insurance premiums of up to $31,000 a year if they do not raise their homes at a significant cost. Many homeowners who were never previously located in flood zones now find themselves being listed as …
Wednesday, March 13, 2013
Elderly residents affected by Superstorm Sandy could find themselves victims of unscrupulous contractors and scam artists.
- GOVERNMENT
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Wednesday, March 13
The Federal Emergency Management Agency (FEMA) is advising seniors recovering from Superstorm Sandy to be on the lookout for scam artists claiming to represent FEMA, the Small Business Administration (SBA) or the National Flood Insurance Program (NFIP). By going door to door to storm-damaged homes or making contact by phone or on the Internet, scam artists may try to obtain personal information such as Social Security and bank account numbers or falsely claim that you need to make a payment to a federal agency. FEMA is offering residents a number of tips to ensure that they're not victims of a potential scam: On any follow-up calls, a FEMA representative will only ask for the last four digits of the applicant’s Social Security number. …
Friday, January 4, 2013
The U.S. House of Representatives approved an initial round of funding for the National Flood Insurance Program. Another $50 billion could come Jan. 15.
The U.S. House of Representatives approved a measure late Friday afternoon allowing the Federal Emergency Management Agency (FEMA) to borrow $9.7 billion to pay insurance claims made by victims of Hurricane Sandy. The bill, HR 41, temporarily increases the borrowing authority of FEMA to allow the agency to carry out payment claims made by property owners to the National Flood Insurance Program. Congress moved to approve the funding stop-gap Friday after concerns were raised that aid for Sandy victims had been delayed too long. The House, specifically, Majority Speaker John Boehner, R-OH, came under fire for tabling a Sandy aid package until after the New Year. Congress is expected to vote on two additional bills authorizing more than $…
Paul
11:32 am on Monday, May 20, 2013
I appreciate the history lesson but why should the government elect to end one subsidy but refuse to end all subsidies that only benefit a few. ie agriculture, oil, etc. I understand your argument that government should not be in the insurance business but to try and correct a decades long wrong on the backs of a few in the short run is not equitable nor should be allowed. Where is the outcry … more ›