What to Know About the Biggert-Waters Flood Insurance Reform Act of 2012

By John Minor, CGG, CFM | February 24, 2014

  • May 24, 2014 at 4:49 pm
    DIvanov says:
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    Biggert-Waters Flood Insurance Reform Act of 2012 is a fraudulent use of consumer funds by insurance companies. There was no notification of the subsidized nature of the flood insurance from our insurance broker until the %25 increase notice. Plus there is no preventative management of the designated flood areas by the insurance companies or the local jurisdictions. Insurance premium usage disclosure is non existent. Insurance is a financial instrument and should be governed by SEC disclosure rules just like 401K and retirement plans based on the amount consumer funds.

  • June 30, 2015 at 1:03 pm
    Philippe says:
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    Well, I can’t argue against the logic. But since I own a home that has been in my family for three generations and over fifty years, but resides in a “V” (High flood risk) area, I will lose the home if this is allowed to continue. I cannot afford tens of thousands of dollars in flood insurance. Isn’t the purpose of insurance to “Spread the risk?” The reparations paid for Hurricanes Andrew, Iniki, and Katrina were subsidized by all our premiums.

  • May 16, 2017 at 12:43 pm
    David farrell says:
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    for those who say that we need national flood ins. I say you are wrong. I say we, more correctly, need national disaster ins. and it needs to be paid for by a tax of say .03% of our income earned or not, on welfare or rich, applied to everyone that means
    everyone so all of us will be forced to enjoy covering the cost of all natural disasters.



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