Actuarially based flood insurance rates scheduled to be phasedin starting next year are unaffordable to Louisiana's coastalresidents, and could have a devastating impact on the state'seconomy, the state's insurance commissioner says.
Jim Donelon made his comments to the National Underwriter as heprepared for a critical meeting Thursday with Federal EmergencyManagement Agency Associate Administrator David Miller, whooversees the National Flood Insurance Program.
Miller is also scheduled to meet Friday with officials inMississippi because of the impact of the rate increases on thatstate's coastal areas.
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