WASHINGTON, D.C. – December 20, 2013 – (RealEstateRama) — Assembly Republican Whip Scott Rumana sponsored a resolution urging Congress to protect local families from skyrocketing insurance increases.
The Resolution, AR-208, urges Congress to pass, and the President to approve, the “Homeowner Flood Insurance Affordability Act of 2013,” effectively delaying the implementation of substantial flood insurance premium increases for four years or longer. The federal act calls for the Federal Emergency Management Agency to complete an affordability study and propose a framework that addresses affordability issues.
“Astronomical increases in flood premiums will price many New Jersey families out of their own homes,” said Rumana. “Families who suffered the emotional and financial shock from severe flooding need quick action by the Congress to spare them from yet another catastrophe.”
Rumana, a member of Gov. Chris Christie’s Passaic River Basin Flood Advisory Commission, and chairman of the Passaic River Basin Task Force, has worked for more than 20 years to address flooding and associated problems in the Passaic River Basin. “Tens of thousands of families were impacted by massive flooding in 2005, 2007, 2010 and 2011, culminating with Hurricane Irene’s impact in 2011 and we have a responsibility to them,” Rumana said.
“Government should protect these victims from unimaginable rate increases that will literally make their homes unaffordable. These are people who have done the right thing, paid for insurance, maintained and repaired their homes,” said Rumana. “Congress needs to act now to protect these families and the communities they live in.”