PICAYUNE — Rep. Gene Taylor, D-Miss., delivered a glimmer of hope to home builders of Pearl River County.
“You can’t have affordable housing till you provide affordable insurance,” Taylor said at a meeting for the Pearl River County Home Builders Association last night. As keynote speaker, Taylor came to thank the local builders, real estate agents and bankers for their participation in the fight to get insurance bill H.R. 3121 passed through the U.S. House of Representatives. H.R. 3121 seeks to pose some regulations on the insurance industry while providing more affordable homeowner’s insurance.
The new insurance bill, Taylor said, seeks to provide wind and flood insurance policies to homeowners as long as the house is built to meet certain criteria and the premium is paid. He also said as long as those conditions are met the homeowner will get paid for resulting damages.
H.R. 3121 also will address the problem of “concurrent causation.” Taylor explained concurrent causation as the addendum in most insurance policies that caused homeowners to lose out on getting the maximum amount of money they were owed once their homes were completely destroyed by Hurricane Katrina.
As Taylor explained it, there were four hours of hurricane force winds that preceded Hurricane Katrina. If a residential home managed to have one two-by-four left standing after those four hours of damaging winds, and a wave came up and knocked down that two-by-four, through concurrent causation insurance companies had a right to say the home was destroyed due to flooding, and only paid out for flood insurance.
This part of an insurance policy, which was largely interpreted incorrectly by most policy holders, protected the insurance agencies. H.R. 3121, Taylor said, seeks to eliminate the concurrent causation addendum found in homeowner policies.
“The program has got to pay for itself,” he continued. In order for the bill to work, is has to be provided at no additional costs to Americans.
Some sought to make insurance issues a Mississippi problem —and to pose an insurance rate hike only for those living on the Mississippi Coast — but, as Taylor explained it, the problem extends beyond Mississippi. “This is a national problem. Fifty-three percent of all Americans are coastal Americans,” he said.
He said that while the bill has passed the House, it still has a huge fight, but he truly believes that the bill will help in the overall fight to be able to provide affordable housing in the area.
Taylor also briefly discussed some of the same concerns that were brought up during the town meeting he held recently in Pearl River County. He said he knows gas prices are on everyone’s mind and that he wished he could say there was great news on the horizon, but that he could not. “I know that wasn’t what you want to hear, but I don’t want to give you false hope,” he said. He blames the problem on national and international demand.
The PRCHBA is the local chapter of the National Association of Home Builders. The organization consists of local builders and those who specialize in trades relating to home building. For more information about the organization, visit www.prchba.com.
Local News
Related Photos
-
By Ginger Schmidt
Taylor addresses home buildiers
- Local News
-
-
SAFETY DAY
Picayune Police officers made a visit to the First Baptist Church of Picayune’s preschool class for their Community Helpers Safety Day. During the event the kids got to meet police officers and trigger lights and sirens in patrol vehicles.
- Escapee caught in county Pearl River County Sheriff’s deputies have captured the inmate who escaped from Mississippi Department of Corrections custody on Friday after attending his father’s wake in Picayune.
- Council discusses which funds to spend first On the same day as the ground breaking for the addition to the historic City Hall, city council members discussed which funds to spend first in its construction.
-
Poplarville aldermen honor Holliday, get audit report briefing
The city board of aldermen honored former District Three Supervisor Hudson Holliday at its Tuesday night meeting.
Mayor Billy Spiers presented Holliday with a framed resolution of appreciation for his dedication and service to the city while serving as county supervisor.
-
MRI INSTALLED
This $1.2 million Magnetic Resonance Imaging equipment was installed at the new location of Highland Community Hospital.
-
Hall suspected of robbery after escaping
A man who escaped from jail after attending his father’s wake is suspected of having carried out an armed robbery on the Texas-Arkansas state line. Johnny Hall escaped from Mississippi Department of Corrections custody on Friday while attending his father’s wake in Picayune.
-
City Hall expansion groundbreaking held
A groundbreaking ceremony was held Tuesday at the construction site for the expansion of the historic Picayune City Hall. “You can see our future when you look down Goodyear Boulevard. You see Chimney Square, our high school, The Link at First Baptist Church, Jack Read Park and then our historic City Hall.
-
PRC athletic director says he’ll recommend random drug testing
Pearl River Central athletic director Andy Kivlan told the school board at its Monday night meeting that he will most likely recommend that students participating in extracurricular activities, including band and ROTC, be subject to random drug screening.
-
Supervisors adopt resolution encouraging more economic development in South Miss.
Following a short presentation by State Sen. Tony Smith (R-Picayune), the board of supervisors adopted on Monday a resolution encouraging state officials and agencies to exercise “fairness and parity” regarding location of new industries in Mississippi.
-
MDEQ wants comprehensive waste disposal plan from county
The Mississippi Department of Environmental Quality has told Pearl River County it wants a comprehensive waste disposal plan for the county. Supervisors indicated at their Monday meeting that they are not happy with the request.
- More Local News Headlines
-
Man Killed in Courthouse Shootout
Video of Ga. Man Who Killed Girl Released
Air Force Airlines: Leaders Get Polished Service
Ga Girl Fights Off Kidnapper at Walmart
Nevada Highway Patrol, City Settle Beating Case
White House Attacks Romney on Birth Control
Homs Bombardment Continues, Global Outcry Grows
Mo. Teen Gets Life Sentence for Killing Girl, 9
Lower-hassle Screening to Be Tested at Airports
Raw Video: Dog Rescued From Icy Colo. Water
Helmet Camera Captures Calif. Fire Rescue
Worker Tells 911: Powell 'exploded the House'
Triple Win: Santorum Takes Minn., Mo., Colo.
Injured Marine Inspired by Homecoming
No Rape Charges Against Son of NYPD Commissioner
Egypt's Ruling Generals Play Risky Game With US
Former Komen Exec Defends Funding Cut
Skip the Coffee Cup and Inhale Your Caffeine Fix
Calif. Gay Marriage Ban Ruled Unconstitutional
Jury Selection for Ex-UVa Athlete Enters 2nd Day
