Insurance lobbyists are currently urging for mandatory disclosure of flooding to be adopted in the state and national levels due to outdated FEMA flood maps causing homeowners to have risk of uninsured damages and more risks of flooding in general.
There is the possibility of this becoming a reality with the National Flood Insurance Program and Reauthorization and Reform Act, which would provide $500 million that would allow for mapping and would extend the program an extra five years.
One solution suggested could also be to add language to this act that will give new homebuyers the proper information regarding their decisions and that would also require mandatory disclosures for flood hazards and history for the home.
Another possible solution has been presented through an act introduced by Senator Marco Rubio. This bill would require FEMA to work with other relating agencies to ensure that they have the most up to date and accurate information within their maps.
Lobbyists are insisting that change must be made in our state that is unfortunately one of the most at-risk states and are hoping that no matter what solution is chosen, it will protect policyholders in the long run.
