National (U.S.)

"Flood Insurance Prices Surge"

"A new law meant to stabilize the federal government's money-losing flood-insurance program is starting to send rates sky high, prompting a growing backlash in coastal areas."

"The Biggert-Waters law, enacted in 2012 before superstorm Sandy hit the Eastern Seaboard, requires that government insurance premiums for the 5.6 million property owners in flood-prone regions be set at a level that better reflects the full risk of flooding. It was prompted by cumulative losses that had ballooned to $24 billion for the National Flood Insurance Program.

Source: Wall St. Journal, 08/15/2013

"BP Sues US Government Over Suspension From New Federal Contracts"

"British oil giant BP sued the U.S. government on Monday over its decision to bar the company from new federal contracts to supply fuel and other services following the company’s agreement to plead guilty to manslaughter and obstruction charges in connection with the 2010 Gulf of Mexico oil spill disaster."

Source: FuelFix, 08/14/2013

Pages

Subscribe to RSS - National (U.S.)