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Flood insurance bill passes with 18 percent cost cap
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Industry News
Thursday, March 6, 2014
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The U.S. House of Representatives passed the Home Flood Insurance Affordability Act of 2014 by a vast majority. The legislation was crafted by Republic Rep. Michael Grimm of New York in response to premiums that had increased drastically in flood-prone areas. The National Association of Homebuilders said the bill would make the NFIP stronger and more effective for years to come.
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