Ending Mandatory Flood Insurance for Commercial Properties
This bill aims to remove the mandatory flood insurance requirement for commercial properties in flood hazard areas. This means business owners will no longer be forced to purchase this insurance, potentially impacting their operating costs. It's important to note that voluntary insurance will still be available.
Key points
Commercial property owners will no longer be required to purchase flood insurance.
This change only applies to commercial properties; mandatory insurance for residential properties remains.
FEMA will continue to offer flood insurance for commercial properties, but purchasing it will be optional.
Status:
Expired
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