Frequently Asked Questions on Chapter 177 of the Acts of 2014, An Act Further Regulating Flood Insurance

More information on the State’s attempt to limit flood insurance cost increases, Frequently Asked Questions on Chapter 177 of the Acts of 2014, An Act Further Regulating Flood Insurance.

A big bone of contention is that the state banking and insurance regulators have interpreted the act as only applying to insurance policies required for mortgages that became effective on or after November 20, 2014 or to homes added to the flood zone after this date.  This interpretation provides no relief for existing homeowners with mortgages, or to all the properties added to the flood zone in Barnstable County and elsewhere in July of 2014

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