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Fitzsimmons Introduces Bill to Combat Rising Flood Insurance Costs

Fitzsimmons Introduces Bill to Combat Rising Flood Insurance Costs

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Published by wvsenatesocial
CHARLESTON, W.V. – Senator Rocky Fitzsimmons (D-Ohio) introduced a bill today that will authorize insurers to offer flood insurance in West Virginia.
CHARLESTON, W.V. – Senator Rocky Fitzsimmons (D-Ohio) introduced a bill today that will authorize insurers to offer flood insurance in West Virginia.

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Published by: wvsenatesocial on Feb 17, 2014
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02/21/2014

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February 17, 2014
FOR IMMEDIATE RELEASE
Contact: Lynette Maselli 304.357.7809 Lynette.Maselli@wvsenate.gov
FITZSIMMONS INTRODUCES BILL TO COMBAT RISING FLOOD INSURANCE COSTS
CHARLESTON, W.V
.
 – 
 Senator Rocky Fitzsimmons (D-Ohio) introduced a bill today that will authorize insurers to offer flood insurance in West Virginia. Since federal law changes in 2012, many West Virginians have experienced significant increases in flood insurance premiums. In response to this, Senate Bill 621 would allow the private insurance market to sell more affordable flood insurance in the state. Senator Fitzsimmons says that insurers who choose to offer flood insurance coverage could sell  policies that would help West Virginians keep and protect their homes.
West Virginia residents understand that our flood risks are very different from those in coastal areas
,” says Fitzsimmons. “
Most homeowners affected by increased flood insurance costs are trying to protect their primary residence, not a vacation home. The insurance market should be allowed to meet this most important need
.”
 The Bigger-Waters Flood Insurance Reform Act of 2012 reauthorized and revised the National Flood Insurance Program. The act increases flood insurance premiums purchased through the  program for second homes, business properties, severe repetitive loss properties and substantially

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