Brandes seeks state review of federal flood insurance rates

BY THE NEWS SERVICE OF FLORIDA

Sen. Jeff Brandes, R-St. Petersburg, wants the state to determine if national flood-insurance rates for Floridians are "excessive, arbitrary, or unfairly discriminatory." Brandes sent a letter Wednesday to Florida Insurance Commissioner Kevin McCarty requesting a review of rates in the National Flood Insurance Program, which is part of the Federal Emergency Management Agency. "While we have made great strides at the state level to promote a robust private marketplace for affordable flood insurance, this fledgling market faces significant hurdles," Brandes wrote. "Reforms that are needed to address rising flood insurance costs cover a wide range of both state and federal laws and administrative regulations." Florida makes up 37 percent of the polices under the National Flood Insurance Program, and Brandes noted that premium increases this year in the program can reach 18 percent for primary residences and 25 percent for non-primary residences. Brandes also sent a letter to members of Florida's congressional delegation urging them to pressure FEMA to release loss history data that is given to private insurers and modelers. "Floridians deserve to know if the rates they are paying are based on fact or fiction," Brandes said in a prepared statement. "I believe it is the role of the state to provide that transparency."