A federal lawsuit unveiled in Louisiana on Thursday could have a far-reaching impact on flood insurance premiums across the country tied to the Federal Emergency Management Association’s Risk Rating 2.0 system.
Attorney General Jeff Landry and Solicitor General Liz Murrill led a press conference in New Orleans on Thursday to announce the lawsuit alongside Greater New Orleans Inc. CEO Michael Hecht and parish presidents and levee district directors.
Those officials are joined by 43 parishes, 10 states, and a dozen levy boards who want FEMA to explain the agency’s calculations used in Risk Rating 2.0 implemented over the last two years that’s drastically increasing flood insurance premiums for Louisiana homeowners and others across the country, in some cases by 1,000%.
