Increases in federal flood insurance premiums that are projected to surpass 700% over the coming years are already leading people to back out of home purchases and will likely lead to an exodus of residents and businesses from southern Louisiana, officials told a federal judge Thursday in New Orleans. The testimony came in a hearing in a lawsuit Louisiana and nine other states filed against the federal government to block sharp increases in national flood insurance rates. The Federal Emergency Management Agency said the new method of computing rates has resulted in reductions or little or no increase for most policy holders.
Louisiana, 9 other states ask federal judge to block changes in National Flood Insurance Program
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Louisiana, 9 other states ask federal judge to block changes in National Flood Insurance Program
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Louisiana, 9 other states ask federal judge to block changes in National Flood Insurance Program
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