The Governors of Florida and Alabama filed an Amicus brief in a lawsuit brought by Mississippi against the federal government over flood insurance rate hikes. Mississippi filed suit just before rate hikes took effect in accordance with the Federal Emergency Management Agency’s Biggert-Waters Flood Insurance Reform Act.
In 2012, President Barack Obama signed the Biggert-Waters Flood Insurance Reform Act into law. This act was adopted to fund the federal government’s flood insurance program which is heavily in debt. It requires yearly rate hikes for those …
Continue Reading