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WASHINGTON (AP) — In the past year, the southwestern Louisiana city of Lake Charles weathered two hurricanes, intense rainfall that sent water gushing down streets and a deep freeze that
A revamped federal flood insurance program means higher rates for many homeowners — including in areas where coverage isn’t required because the government...
WASHINGTON (AP) — In the past year, the southwestern Louisiana city of Lake Charles...
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 types of flood risk.
A revamped federal flood insurance program means higher rates for many homeowners — including in areas where coverage isn’t required because the government...