BROOKLYN - Many Brooklyn residents who were hard-hit by Superstorm Sandy are now facing sky-rocketing insurance rates, but some elected officials are pushing new legislation that would alleviate some of the financial burdens.
New flood zone maps released by FEMA after the massive storm require residents along the coast to purchase flood insurance. A recently enacted overhaul of the federal flood insurance program is causing those rates to skyrocket, and many residents say they simply can't afford it.
State Sen. Marty Golden joined Rep. Michael Grimm this afternoon to call on the U.S. Senate to pass legislation to repeal the insurance premium increases. They are also calling for an 18 percent cap on yearly increases.
The House approved the legislation earlier this week, and Rep. Grimm says he expects the Senate to vote as early as next week.