News in the Region
WASHINGTON — The congressional fight to delay increasing flood insurance premiums is mired in the federal budget stalemate. Meanwhile, new insurance “rating guidelines” released this week confirmed the fears of dramatic insurance hikes for many southern Louisiana residents.
9/6/2013 | Read Story »
Eight years ago, 25 acres in Gentilly that an order of Catholic nuns called a sanctuary became a danger zone as the floodwaters that followed Hurricane Katrina quickly inundated its grounds.
9/6/2013 | Read Story »
When Laurie Futch bought her parents’ converted cottage in the 1980s, she paid almost $50,000 to raise it above the government-designated flood level. Now the Marshfield homeowner finds herself, along with thousands of others in the south suburbs, facing new or substantially higher premiums for flood insurance based on the Federal Emergency Management Agency’s redrawing of flood lines.
9/1/2013 | Read Story »
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… Read More »
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… Read More »
07/23/2013 | Read Story »