The Associated Press

Mass. Bill Would Soften Flood Insurance Rules

BOSTON — The Massachusetts House of Representatives has unanimously approved a bill aimed at softening the impact of new federal flood insurance rules on many coastal homeowners.

The measure would tie the level of flood insurance that must be purchased to a homeowner’s outstanding mortgage balance, rather than the full replacement value of the home.

Lawmakers representing coastal districts said during Wednesday’s debate that constituents were facing dramatic increases in flood insurance premiums as a result of the new rules that were put into effect in an effort to keep the National Flood Insurance Program solvent.

The bill now goes to the Senate.

The U.S. House voted last week to roll back some provisions of the federal law, while the Senate has backed a measure calling for a four-year delay in implementation of the law.

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  • AmanaPlan

    We need to stop subsidizing the coastal property owners – they need to either move or take other protective measures that will reduce damage. Seems like this law change will protect the mortgage holders but encourage the occupants to risk becoming homeless.

  • Bob Stauskas

    Although commonly misinterpreted, the word “collectivism” does not refer to the social interaction, coordination, and voluntary association that arise spontaneously from our human nature.

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