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Private flood insurance bill passes committee

8:54 PM, Jan 8, 2014   |    comments
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A major hurdle was passed on Wednesday for possible private flood insurance.

A bill introduced by State Senator Jeff Brandes passed committee with unanimous support.

Senate Bill 542 would create a wide range of flexible options for policyholders, including covering either the outstanding balance of their mortgage, replacement cost of their property, or the actual cash value.

A bill freezing rates on the federal level is expected to be voted on in the Senate next week.

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