Louisiana Insurance Commissioner Tim Temple is backing U.S. Sens. Bill Cassidy and John Kennedy in urging FEMA to pause its Risk Rating 2.0 flood insurance overhaul, citing steep rate hikes and lack of transparency, The Center Square writes.
Implemented in 2021, the pricing update was intended to better align National Flood Insurance Program (NFIP) premiums with individual property risk. But critics say the changes have driven premiums up—by 234% on average in Louisiana—and forced thousands of residents to drop coverage. Temple and the senators argue the program now threatens affordability, homeownership and economic stability in flood-prone states.
They’re asking FEMA to suspend Risk Rating 2.0, release the data behind it, and restore pricing safeguards for vulnerable households. FEMA maintains the changes are necessary for NFIP’s long-term solvency, but Temple and lawmakers say the lack of transparency and public input make the program unsustainable.
Without action, Cassidy and Kennedy warn, home sales could stall and disaster recovery costs could shift to taxpayers. FEMA has not yet responded.
Read the full story.
