The South Carolina Department of Insurance is concerned about the effects of the Biggert Waters Flood Insurance Reform Act (BW12) and is anxious to hear from persons who have been greatly affected by large increases in premium.
Mississippi has filed a lawsuit against FEMA regarding BW12. Perhaps the South Carolina Department is considering a similar step.
Our agency has already seen clients with very larger premium increases and we have been fielding dozens of phone calls on the subject from our policyholders. We also know of several real estate closings that have been cancelled due to expected future flood premiums.