Flood insurance refunds issued beginning Oct. 1 - WRBL

Flood insurance refunds issued beginning Oct. 1

Posted: Updated:
  • Flood insurance refunds issued beginning Oct. 1More>>

  • Weather - Hurricane-Ready: Important numbers

    Hurricane-Ready: Important numbers

    Important phone numbers to keep handy in the event a tropical storm or hurricane threatens your community. The information is broken down by county.
    Important phone numbers to keep handy in the event a tropical storm or hurricane threatens your community. The information is broken down by county.

Rep. Bill Cassidy (R-LA) announced that the National Flood Insurance Program (NFIP) is continuing to implement the Grimm-Cassidy Substitute Amendment to the Homeowner Flood Insurance Affordability Act of 2014. Insurance companies will begin to issue refunds for applicable policyholders beginning October 1, 2014. All checks are anticipated to be written by the end of the calendar year. Dr. Cassidy offered the following statement:

“On October 1, families who overpaid prior to the Grimm-Cassidy Amendment to the Homeowner Flood Insurance Affordability Act will begin receiving refunds. As so many families are struggling in today’s economy, ensuring that families receive these refunds as quickly as possible must be a priority.”

Dr. Cassidy previously announced that as of May 1, people who purchased new homes after Biggert-Waters became law, or who didn't have insurance before that date, or whose insurance lapsed, will revert back to premium schedules in effect Oct. 1, 2013.

The Grimm-Cassidy Substitute Amendment to the Homeowner Flood Insurance Affordability Act (H.R. 3370) reinstates grandfathered rates, repeals the home sale/new policy rate increase trigger, provides refunds for people who bought pre-FIRM subsidized homes without being informed of rate increases and caps flood insurance rate increases, among other things.

Signed into law on March 21, 2014, the Grimm-Cassidy Amendment was supported by a broad bi-partisan coalition of Members of Congress, realtors, homebuilders, credit unions, bankers and over 200 stakeholder groups around this country.

 

  • Don't Miss ItMore>>

  • ISIS Fast Facts

    ISIS Fast Facts

    Tuesday, September 16 2014 2:41 PM EDT2014-09-16 18:41:44 GMT

    A look at Islamic State in Iraq and Syria (ISIS)

    A look at Islamic State in Iraq and Syria (ISIS)

  • Bear takes dip in back yard pool

    Bear takes dip in back yard pool

    Tuesday, September 16 2014 1:52 PM EDT2014-09-16 17:52:16 GMT
    NBC News imageNBC News image
    It's no secret that alligators sometimes make their way into pools here in Florida. But, in sunny California, bears have been known to venture into back yards to take a dip.
    It's no secret that alligators sometimes make their way into pools here in Florida. But, in sunny California, bears have been known to venture into back yards to take a dip.
  • Young heart patient's family to donate 'extra money' to others on transplant list

    Young heart patient's family to donate 'extra money' to others on transplant list

    Monday, September 15 2014 7:46 PM EDT2014-09-15 23:46:17 GMT
    Little Hudson. Image courtesy Hudson's Heart Community/FacebookLittle Hudson. Image courtesy Hudson's Heart Community/Facebook
    A Durham family has surpassed their fundraising goal to help pay for mounting medical bills for their 2-month-old son in need of a new heart, and they say they plan to donate any extra money to other families of children in need of organ transplants.
    A Durham family has surpassed their fundraising goal to help pay for mounting medical bills for their 2-month-old son in need of a new heart, and they say they plan to donate any extra money to other families of children in need of organ transplants.
  • Most Viewed Stories on WFLA.com

  • Sign up for WFLA News Channel 8 Email Alerts

    * denotes required fields






    Thank you for signing up! You will receive a confirmation email shortly.
Powered by WorldNow

1350 13th Avenue
Columbus, GA 31901

Telephone: 706.323.3333
Fax: 706.327.6655
Email: news@wrbl.com

Can't find something?
Powered by WorldNow
All content © Copyright 2000 - 2014 Media General Communications Holdings, LLC. A Media General Company.