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Parkersburg News and Sentinel: Reps seek action on insurance concerns

Members of Congress from West Virginia and Ohio are pushing for action to delay the flood insurance premium increases that are placing a burden on property owners and blocking potential home sales.

The increases are the result of provisions of the Biggert-Waters Flood Insurance Reform Act of 2012, which renewed the National Flood Insurance Program with an eye toward making it more financially stable by phasing out subsidies so that rates more accurately reflect flood risk.

On Wednesday, Reps. David McKinley, R-W.Va., and Bill Johnson, R-Ohio, sent a letter to House Speaker John Boehner urging "a compassionate solution that will strengthen the NFIP and avoid placing unbearable costs on homeowners."

"Some people are faced with premiums as much as 10 times higher than in previous years," the letter says. "Many homeowners are finding it impossible to sell their property because no one is willing to shoulder the cost of purchasing a new flood insurance policy."

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