So are you basically saying we are going to have perhaps hundreds of thousands of new homeowners who are going to have deep shock when they receive a notice saying that their insur...
Is it upon a 1-year renewal, they get a 1-year policy, then upon renewal of that policy, their rates will go to the unsu...
Thank you.
I am very concerned that the unaffordability of flood insurance will cause people to drop their flood insurance.
Absolutely. I really appreciate your testimony on that topic when you talked about the 25-percent loss ratio.
And so we are creating something where homeowners who have built up equity over their lifetimes, maybe they have owned t...
Those people need to be extended--have the subsidized rates extended to them for a longer period of time.
So, in short, the folks who live on a stream in Oregon are not subsidizing a hurricane zone on the Atlantic coast.
I really think that FEMA needs to have an ombudsman function.
Am I correct in believing that if a family has to pay $1,000 more a year in flood insurance, one of the costs, if you wi...
Chairman Merkley. So I would toss out the idea that I will be happy to follow up with subsequent to this hearing...