A set of reforms agreed to by Congress to sustain the National Flood Insurance Program has some U.S. House members from North Carolina trying to rescind them.
U.S. Rep. Mike McIntyre, D-N.C., is leading the charge to prevent Eastern North Carolina from having to deal with the significant increases which could take place starting Oct. 1.
McIntyre, who represents the 7th District, along with three other N.C. representatives — Walter B. Jones (R-3rd), Howard Coble (R-6th) and Mel Watt (D-12th) — sent a letter to the congressional leadership requesting a provision to delay the flood insurance rate hikes, by preventing part of the Biggert-Waters Flood Insurance Reform Act from being implemented.
If nothing is changed, some homeowners in North Carolina will see increases as high as 4,000 to 5,000 percent.
In a Thursday press release, McIntyre stated, “Flood insurance must be accessible and affordable to North Carolinians, and the increase in rates must be stopped. Folks from all across Eastern North Carolina have expressed to me their very serious concerns about the impact that increased flood rates would have on homes, communities, and the local economy. We are going to do all we can to derail this increase!”
Jones has been hoping for a delay in the process of the hikes in order to adjust the rates.
“Reforms to the NFIP were certainly necessary to ensure the program’s financial sustainability,” Jones stated on Thursday. “However, I believe that the changes should be implemented in such a way that they do not cause homeowners in Eastern North Carolina and across the country to face sudden, exorbitant rate increases. The one-year delay will allow time for adjustments to be made so that flood insurance remains affordable.”
Lenoir County Economic Development Executive Director Mark Pope said the coastal areas of Eastern North Carolina would be heavily affected by the flood insurance rate if the law is enacted.
“After the damage caused by Hurricane Fran and Floyd, which doesn’t happen often, it’s going to affect people because of the insurance claims,” Pope said. “It’s not going to be good for the area.”
Junious Smith III can be reached at 252-559-1077 and Junious.Smith@Kinston.com. Follow him on Twitter at @JuniousSmithIII.