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NEW ORLEANS (WVUE) – The recent flooding in New Orleans during Hurricane Francine highlights the extensive damage water can do to homes. However, in recent years, homeowners have voiced concerns about rising flood insurance premiums.
“I think all the insurance has gone up, not only flood insurance,” said Katherine Drezek.
As the cost of flood coverage continues to increase for residents of Louisiana and across the country, U.S. Sen. Bill Cassidy of Louisiana has released a new report on the National Flood Insurance Program (NFIP).
“We compiled it. My staff did fantastic work, as you can see from all the references,” Cassidy told FOX 8.
The NFIP is administered by FEMA, but Cassidy’s report criticizes the agency’s approach.
“What we found is that FEMA is ignoring the affordability aspect. They have a dual mission: They must have a program that is affordable but also one that makes actuarial sense,” Cassidy …
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