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Flood insurance costs rise in areas once deemed lower risk

Under a revamped federal flood insurance program rolled out this fall, millions of homeowners are set for rate hikes that officials say more accurately reflect a property’s risk. The overhaul is intended in part to make it more expensive to develop in risky areas. The Federal Emergency Management Agency says its new insurance program factors in the characteristics of individual properties, such as how close they are to water, how expensive they are to rebuild and whether they faces multiple ...
United States Lake Charles Joel Scata David Maurstad Aric Pohorelsky Jim Donelon
Source: aol.com

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