Menendez Fights to Keep Flood Insurance Affordable
Press Release
Issues: Housing and Property
U.S. Senator Bob Menendez, chair of the Sandy Task Force and the leading voice in Congress for sweeping reform to the National Flood Insurance Program (NFIP), today pressed the Federal Emergency Management Agency (FEMA) during a hearing before the Senate Banking Committee to be honest about the real impact of Risk Rating 2.0 on flood insurance policyholders, the vast majority of which will face annual premium hikes. Despite their spin that Risk Rating 2.0 will deliver significant savings for policyholders, FEMA confirmed during questioning from Sen. Menendez that eight-in-ten NFIP policyholders will actually see their premiums rise.
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