Policy Studies Flood Insurance

A state approach to flood insurance reform in Florida

With various provisions of the Biggert-Waters Flood Insurance Reform Act of 2012 taking effect this year, there is growing concern that scheduled rate increases by the National Flood Insurance Program will have adverse effects on hundreds of thousands of Floridians who must carry flood coverage. Elected officials at the local, state and federal levels already have called for a delay in the implementation of the rate increases, and the Florida Cabinet and Legislature have both convened hearings and workshops to discuss the reforms, their potential effects, and what, if anything the state could do to temper the law’s negative impacts.

These are all valid concerns, but the best solution to this problem is to offer consumers more choices, rather than halting changes to the program, which most agree are necessary. As Florida lawmakers work to find solutions to alleviate the impact on NFIP reforms, they should take the attached principles into consideration.

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