DuBos: Flood insurance rates a national issue

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wwltv.com

Posted on February 11, 2014 at 7:26 PM

Updated Tuesday, Feb 11 at 7:41 PM

Despite some recent setbacks, Louisiana’s congressional delegation continues to push for a delay in huge flood insurance premium hikes. That’s the topic of this week’s Commentary by Eyewitness News Political Analyst and Gambit columnist Clancy DuBos.

Clancy DuBos / Eyewitness News Political Analyst

Nobody said it was going to be easy. In 2012, Congress passed the Biggert-Waters Flood Insurance Reform Act. Though well intentioned, the Act triggered massive increases in flood insurance premiums.

As awful as that sounds, it has united Democrats and Republicans in Louisiana — and in some other states. Senators Mary Landrieu and David Vitter recently convinced their colleagues to approve a bill delaying most of the rate hikes for about four years.

Now it’s the House’s turn. Unfortunately, many House Republicans oppose the Senate bill. Republican congressmen from Louisiana and other Gulf states are trying to convince their colleagues to change their minds — or pass a separate rate relief bill.

Meanwhile, the uncertainty over flood insurance rates is sending shock waves through the real estate industry.

Congress needs to remember that floods are not unique to the Gulf Coast. In fact, floods are America’s most common form of natural disaster. They affect virtually every corner of the country.

Hopefully, Congress will soon recognize that flood insurance rate relief is a national issue, not a regional one.

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