Live On The Levee Lineup Announced
Charleston’s annual free concert series, Live on the Levee, will begin on May 24 and run through August 10.
Continue Reading Take Me to More NewsA bill that would create a private flood insurance option has been introduced in the West Virginia Senate.
The sponsor is Sen. Rocky Fitzsimmons, who says federal law changes in 2012 under the Bigger-Waters Flood insurance Reform Act have caused significant increases in premiums for West Virginia.
He explained that prospective home buyers who try to secure a loan through a bank are required to purchase flood insurance, a cost that is greatly affecting the housing market.
The bill would also allow a greater option of flood insurance plans. In addition to purchasing a plan to replace a home, homeowners could opt to only insure the outstanding amount of their loan.
Senate Bill 621 has been referred to the committee on Banking and Insurance.