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FEMA hit with lawsuit over flood insurance coverage pricing system

FEMA hit with lawsuit over flood insurance coverage pricing system | Insurance coverage Enterprise America

Parish takes authorized motion

FEMA hit with lawsuit over flood insurance pricing system

Insurance coverage Information

Mika Pangilinan

A Louisiana parish has sued the Federal Emergency Administration Company (FEMA) over its new pricing system for flood insurance coverage premiums, often known as Threat Ranking 2.0.

The lawsuit, which was filed in federal court docket, claims that the company has denied public file requests made by the St. Charles Parish associated to how charges are being calculated below the brand new system.

A press release issued Tuesday revealed that the request was made below the Freedom of Data Act final November 2022, because the parish sought info on the mannequin that the company used to find out price hikes.  

Parish president Matthew Jewell mentioned they had been compelled to file the swimsuit after “exhausting all out there administrative treatments and seeks to require FEMA to adjust to federal legislation.”

“The residents of St. Charles Parish are seeing enormous spikes in flood insurance coverage charges, and we need to know why,” he mentioned additional. “We deserve transparency on the info getting used to find out these astronomical price will increase.”

“We’re reviewing and have to proceed to evaluation the Threat Ranking 2.0 given the considerations which were expressed,” Mayorkas mentioned in a congressional listening to final week, addressing feedback from the Homeland Safety Committee.

The Division of Homeland Safety oversees FEMA, which is accountable for managing the Nationwide Flood Insurance coverage Program (NFIP).

NOLA.com has reported that FEMA may even see additional authorized motion down the road, as Louisiana Lawyer Basic Jeff Landry is claimed to be getting ready a separate lawsuit after he had referred to as the company’s pricing components “arbitrary and capricious.”

What are your ideas on the controversial Threat Ranking 2.0? Be at liberty to remark under.

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