WASHINGTON, D.C. – March 6, 2014 – (RealEstateRama) — Last night, Congressman John Garamendi (D-Fairfield, CA), who served as California’s State Insurance Commissioner for eight years, voted for and spoke in favor of the Homeowner Flood Insurance Affordability Act, which passed the House of Representatives on a bipartisan vote of 306-91. The legislation addresses an unintended and serious problem stemming from the Biggert-Waters Flood Insurance Reform Act of 2012: unreasonably high and immediate increases in flood insurance rates.
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