Remember the flood insurance scare of 2013? It’s creeping back into Tampa Bay and Florida

The private flood insurance market is stirring after more than 50 years of dormancy (Forbes, August 2016) Remember the flood insurance scare of 2013? It’s creeping back into Tampa Bay and Florida (Tampa Bay Times, August 5, 2016)

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So what is flood insurance the Biggert-Waters act? According to Harrington a journalist with the Tampa bay Times, it is a Flood Insurance Reform Act of 2012, which "removed the subsidies on about 20 percent of policies nationwide for homes that were built prior to 1975" (Harrington, 2016).

Remember the flood insurance scare of 2013? It’s creeping back into Tampa Bay and Florida ( web.tampabay.com ) submitted 2 years ago by SNM_2_0 to r/florida

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Striking photos of flood damage in parts of Florida. Stephen Halstead, left, Chris Halstead, middle, and Evan Dominguez, right, walk past an uprooted palm tree lying in a flooded section of.

Flood Insurance Costs Rise for Florida Residents. Florida home and business property owners have seen some steep rises in the cost of their flood insurance over the last months. This is thought to be am effect of the flood insurance reforms, which came into law in 2012 and are known as the Biggert-Waters Flood Insurance Reform Act (BW-12 ).

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1.Even though residents who have a federally backed mortgage and live in a floodplain need to have flood insurance, many do not purchase it 2. Many individuals misunderstand flood risk, thinking that if a 100 year flood occurs, there will be no more floods for 100 years.

When Congress reviews the broken flood insurance program next year, Florida’s congressional delegation should insist on fairer treatment for a state that is paying way more than its. S BACK: Flood.