Coalition established in response to effects of latest FEMA flood mapping; insurance premiums set to skyrocket
POSTED: Tuesday, August 20, 2013 - 2:00pm
UPDATED: Tuesday, August 20, 2013 - 2:04pm
GONZALES, LA (THECREOLE.COM) — The Coalition for Sustainable Flood Insurance has been established in order to combat the anticipated effect of FEMA’s latest flood mapping.
In combination with the Biggert-Waters Act of 2012, the mapping will result in the unintended consequence of skyrocketing flood insurance premiums across south-Louisiana as well as other regions across the nation.
New FEMA maps, which outline base flood elevation, do not recognize the protections afforded south-Louisiana by the many levees constructed but not recognized by the Army Corps of Engineers, nor do they credit the many pumping systems which have been installed.
CSFI adherents argue that the flood prevention measures are effective and reduce the risk of flooding greatly. Theze measures should result in insurance rate reductions which correspond to the reduction in the chance of a protected area flooding.
The argument is difficult to verify since FEMA does not release the actuarial tables publicly.