Markey Hosts Mass Speaker DeLeo, Warren, Tierney, Kennedy to Discuss Flood Insurance Rate Reform
Contact: Giselle Barry (Markey) 2022242742
Seth Gitell (DeLeo) 6177222500
Washington (November 21, 2013) - Senator Edward J. Markey (DMass.) today hosted Massachusetts House Speaker Robert A. DeLeo (DWinthrop) along with Massachusetts Senator Elizabeth Warren and Reps. John Tierney and Joe Kennedy in Washington, D.C. to discuss relief for home and business owners impacted by potential new flood insurance rates as a result of implementation of the BiggertWaters National Flood Insurance Reform Act. As flood zone s are updated, many families in Massachusetts and across the country have been placed into a flood zone for the first time and are being asked to pay thousands of dollars in premiums under new flood insurance rate rules. Speaker DeLeo conveyed the serious concerns of Massachusetts House members and their constituents about the new flood insurance rates and voiced support for Senator Markey's efforts to protect homeowners.
"Innocent business and homeowners in Massachusetts need protections from potential spikes in flood insurance rates, and I will fight to ensure an affordability fix is implemented before any flood insurance rate increases go into effect," said Senator Markey. "I met with community members in the North and South Shore and heard grave concerns that rate increases could mean the loss of homes and the shuttering of businesses. I commend Speaker DeLeo for his leadership working to protect Massachusetts home and business owners, and I look forward to working with him and the entire Congressional delegation on this critical issue."
"Every day as Speaker of the Massachusetts House and a representative of a coastal community, I hear how the new changes regarding FEMA flood insurance are threatening homeowners and businesses in our state," said Speaker DeLeo. " While we have filed legislation at the state level, I'm deeply grateful for the action Senator Markey and Senator Warren have taken on the federal level to address this issue. I thank Senator Markey, Senator Warren, and members of the state's congressional delegation for meeting with me in Washington today and look forward to working together to protect the people of Massachusetts and the country at large from the inequitable and unforeseeable consequences of these changes."
Senator Markey is an original cosponsor of the bipartisan Homeowner Flood Insurance Affordability Act , legislation recently introduced that would protect millions of homeowners from facing huge flood insurance premium rate hikes and require the Federal Emergency Management Agency (FEMA) to complete an affordability study and propose real solutions to address affordability issues before any flood insurance premiums can be raised in the future.
In September, Senator Markey led the entire Massachusetts Congressional delegation in a letter to House and Senate leadership calling for fixes to the BiggertWaters law to avoid increases to home and business owner insurance premiums. In October, Senators Markey and Warren signed a bipartisan letter calling for a oneyear delay of the new insurance rates.