Rep. Mike Flood U.S. Representative for Nebraska's 1st District | Official U.S. House headshot
Rep. Mike Flood U.S. Representative for Nebraska's 1st District | Official U.S. House headshot
U.S. Congressman Mike Flood has issued a statement addressing the escalating home insurance crisis affecting Nebraska and the nation.
"Data shows that Nebraska has experienced an over 60 percent increase in home insurance costs year-over-year. During this timeframe, this was the second highest rate increase in the nation," said Rep. Flood. "In the last couple of weeks, severe weather events have once again ripped through our communities, leaving damage that will only put more upward pressure on the cost of home insurance. Rising home insurance costs and escalating property taxes are delivering a one-two punch to Nebraska homeowners. We need to tackle this problem and do so quickly."
Rep. Flood announced plans to assemble a working group this fall, comprising insurance industry leaders, home builders, and other stakeholders to develop solutions aimed at mitigating rising home insurance costs.
Earlier this year, CNBC conducted an analysis of the growing home insurance crisis.
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