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Millions Facing Higher Premium Rates for Flood Insurance

April 12, 2015 3:36 PM
44 0

A $24 billion sea of red ink has millions of Americans in vulnerable flood zones, including homeowners still struggling to recover from Superstorm Sandy, facing steep increases in flood insurance premiums.

New legislation that went into effect this month — the second time in two years Congress has tweaked the troubled National Flood Insurance Program — allows rate increases of up to 18 percent.

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