News in the Region
In recent months, it has become clear that Congressional action is needed to address unintended, drastic increases to National Flood Insurance Program (NFIP) rates for home and business owners along our coasts and rivers. A confluence of the Biggert-Waters Act of 2012 (which was meant to stabilize NFIP), incomplete and inaccurate FEMA maps, and questionable actuarial calculations have led to premium increases of up to 5,000 percent and more – even for policyholders who have built to code and never flooded.
8/29/2013 | Read Story »
The New Orleans-area economy weathered the recession better than most of America and is beginning to diversify beyond the long-dominant tourism sector, according to the latest post-Hurricane Katrina annual report released by the Greater New Orleans Community Data Center
8/14/2013 | Read Story »
A new law meant to stabilize the federal government’s money-losing flood-insurance program is starting to send rates sky high, prompting a growing backlash in coastal areas.
The Biggert-Waters law, enacted in 2012 before superstorm Sandy hit the Eastern Seaboard, requires that government insurance premiums for the 5.6 million property owners in flood-prone regions be set at a level that better reflects the full risk of flooding. It was prompted by cumulative losses that had ballooned to $24 billion for the National Flood Insurance Program.
8/12/2013 | Read Story »
Rainfall should be diverted out of Uptown via the Mississippi River instead of carrying it all the way to Lake […]
08/01/2013 | Read Story »
Ever since the levees failed eight years ago, New Orleans’ intelligentsia has been talking about learning from the Netherlands, a […]
07/23/2013 | Read Story »
Many startups are attracted to Louisiana’s traditional fishing and oil and gas industries, but the state’s growing technology, life sciences, music and entertainment sectors also are luring new businesses, said Scott Martinez, president of the North Louisiana Economic Partnership.
06/20/2013 | Read Story »
The No. 1 city on our list, New Orleans, fits this picture to a degree as a quintessentially Southern city, but it’s a bit of an anomaly. Its fast growth is partially a rebound effect from its massive population loss after Katrina, but is also a function of a striking economic revival that I have seen firsthand as a consultant in the area.
06/18/2013 | Read Story »
The House Wednesday night approved an amendment that bars FEMA from using its budget to implement a 2012 law that ends subsidized flood insurance rates for policyholders who, through no fault of their own, are remapped into a “below base flood elevation” status. It passed 281-146, but still needs Senate approval to become law.
06/05/2013 | Read Story »