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Impending legislation set to keep flood premiums manageable for coastal communities
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It appears that adoption is imminent of new legislation that aims to keep flood insurance affordable for coastal homeowners throughout the U.S.
The House voted 306-91 March 4 in favor of the Homeowner Flood Insurance Affordability Act, which would mandate that flood insurance premiums under the National Flood Insurance Program (NFIP) could not increase more than 18 percent annually on a property.
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