Murkowski Votes to Avert Alaskan Flood Insurance Rate Hike

Senator: No Alaska Should Pay More for “Bizarre” Methods, Shoddy Science

WASHINGTON, D.C. – After years of fighting costly and flawed Alaskan flood risk formulas for homeowners by the Federal Emergency Management Agency – with some Alaskan properties classified as ‘high’ risk based on flawed or outdated data and maps – Senator Lisa Murkowski cast a vote today for the bipartisan Homeowners Flood Insurance Affordability Act of 2014 she co-sponsored. S.1962 passed the Senate today, 67-32.

This bipartisan legislation would halt any federal flood insurance rate hike on most properties until FEMA can refine and improve its mapping process for better accuracy, and also take a larger look at affordability impacts on consumers. The bill also insures that Congress has time to review and act on FEMA’s findings.

“This is a statewide issue for Alaska. I’ve heard loud and clear from the Interior, Homer, Juneau and the Mat-Su that basing such expensive rate increases on inaccurate FEMA flood zone maps is simply inconceivable,” said Murkowski. “This bill would push the pause button on increased insurance rates until the federal government can check its math and refine its process. Carpenters and engineers always say ‘measure twice, cut once’, I think the federal government should measure two times or more before raising insurance rates on Alaskans.”