Extension of flood insurance in works

The American Press

Congress is taking steps to approve another temporary extension of the National Flood Insurance Program (NFIP) that expires Nov. 30. If approved, this would be the eighth temporary extension since September of 2017.

Costly hurricanes over the last 13 years have left the flood insurance program billions of dollars in debt. Reform is essential in order to try and make the program self-supporting. The insurance covers damage and loss to a building and personal property during floods, which are not covered under homeowner policies.

Jim Donelon, state insurance commissioner, told the Press Club of Baton Rouge in September that flood insurance is cheap and Louisiana has been a major beneficiary of the program. However, he said it remains a struggle to get homeowners and businesses to sign up for flood insurance until there is a flood.

Louisiana’s congressional delegation is on the front lines in support of the temporary extension. Current NFIP policies would remain in effect if the extension isn’t granted, but no new policies could be issued.

Sen. Bill Cassidy, R-La., said, "While it’s frustrating another short term extension is required, this gives us a good opportunity in the new Congress to buckle down and hammer out a long-term agreement that is good for Louisiana and good for taxpayers."

Reform has been difficult and The Advocate explained why. Politicians from flood-prone states want greater investment in flood defenses, funding to buy out homeowners in risky areas and other initiatives to cut down on future payouts.

Fiscal conservatives oppose subsidies that keep premiums low for high-risk homeowners. They support steep rate hikes on some policyholders currently paying below-market rates.

Sen. John Kennedy, R-La., said, "Most of the senators I’ve talked to are comfortable with the six-month extension. But some will object just because they want to kill the program."

Kennedy said he is extremely frustrated that long-term reforms haven’t been made because the program is necessary for more than five million homes and businesses in the country. The program covers about a half-million homes in Louisiana.

We hope Cassidy is correct when he says the NFIP temporary extension will give Congress time to reform the program. Unfortunately, that is difficult to accomplish in the highly partisan atmosphere in Washington, D.C.””Flood Insurance

Local News

‘Get your creative juices flowing’ with Hook Nook Crafting

Local News

Fire Chief Harlow has intense love for public service

Local News

LABI head: State needs streamlined sales tax collection

Crime

R&B superstar R. Kelly convicted in sex trafficking trial

Crime

Leesville woman accused of stabbing boyfriend

Local News

Health care workers sue La. hospitals over vaccine mandate

Local News

Volunteer of Week: All of Bergeron family involved in community service

Local News

Gallery: Firefighter challenge

Jim Beam

Jim Beam column:Amendment No. 1 is winner

Crime

Residents taking insurance companies to city court

Local News

Coming back stronger: Davison talks BBBS rebound, recovery

Local News

Ruth Sullivan, pioneer in the study of autism, dies at 97

Local News

Pfizer booster shots now available to adults at increased risk

Crime

Driver arrested for drugs after passenger found dead in truck

Local News

From Moss Bluff to Diitabiki and back again

Crime

O’Brien sentenced to life for rape of child

Crime

Five accused of attempted ATM burglaries

Local News

I-10 bridge task force chair: Wednesday crash highlights need for new bridge

Local News

National Seat Check Saturday at Southwest Beverage

Crime

State Police investigating officer-involved fatal shooting of inmate

Crime

LC man arrested after shooting at neighbor’s home

State News

Coroner identifies man killed by alligator

Crime

Sulphur High student arrested after threat made

Crime

Sheriff: Escapee shot after firing at officers