WASHINGTON – U.S. Senators Bill Cassidy, M.D. (R-LA), John Kennedy (R-LA), Marco Rubio (R-FL), and Cindy Hyde-Smith (R-MS) introduced legislation to reauthorize the National Flood Insurance Program (NFIP) until September 30, 2023.
“The White House needs to roll back their disastrous Risk Rating 2.0 system that is increasing rates for Louisiana families. In the meantime, we cannot let the National Flood Insurance Program expire and throw homeowners into the brink this hurricane season,” said Dr. Cassidy.
Earlier this year, Senator Cassidy released a statement on FEMA publicly acknowledging an internal study finding that the implementation of Risk Rating 2.0 to the National Flood Insurance Program (NFIP) could cause 20% of policyholders to drop out of the program due to skyrocketing premiums. Cassidy also joined colleagues to introduce the Homeowners Flood Insurance Transparency and Protection Act, which would allow National Flood Insurance Program (NFIP) policyholders to maintain their current rates until the Federal Emergency Management Agency (FEMA) can meet certain accountability measures.