Central Louisiana News

U.S. Senator Bill Cassidy has urged Congress to address the escalating premiums in the National Flood Insurance Program (NFIP) during a speech on the Senate floor. He presented a report detailing issues with NFIP, which is crucial for 4.7 million homes across the United States, including many in Louisiana.

Cassidy criticized FEMA's Risk Rating 2.0 program, attributing it to the sharp rise in insurance costs that have left numerous families unable to secure their homes against flooding. "Skyrocketing insurance premiums caused by FEMA’s new risk assessment program—Risk Rating 2.0—have left many Louisiana families and families around the nation with no way to protect their homes," said Dr. Cassidy.

The senator emphasized that Americans expressed dissatisfaction with the status quo by voting for change, highlighting his belief that NFIP is not meeting its intended purpose as a safety net for disasters.

The report outlines several findings: average flood insurance costs rose nationwide after Risk Rating 2.0 was implemented; premiums in Louisiana increased by 234 percent; and nearly half a million Americans dropped coverage due to high costs.

Cassidy also claimed that FEMA lacked authority from Congress to implement Risk Rating 2.0, describing it as an unauthorized action that bypassed proper legislative procedures.

He called for comprehensive reform of NFIP to prevent excessive premium hikes and enhance mitigation efforts while simplifying claims processes. "Congress must pass a comprehensive NFIP reform package that protects families from excessive premium hikes," Cassidy stated, urging fellow lawmakers to join him in this effort.