Auto trade group to argue against AM radio mandate at House hearing
The Alliance for Automotive Innovation will argue that the way consumers receive information is constantly evolving, according to written testimony.
Florida, 9 other states fight flood insurance changes
TALLAHASSEE — Florida has joined nine other states in a federal lawsuit challenging an overhaul of the National Flood Insurance Program, arguing the new system will drive up premiums for many property owners.
The lawsuit, led by Louisiana Attorney General Jeff Landry, was filed Thursday in the federal Eastern District of Louisiana against defendants including the Federal Emergency Management Agency. It came after the program changes, which were phased in starting in 2021, became fully effective April 1.
The program plays a major role for Florida residents, many of whom are required to have flood insurance because of their home mortgages. A document in the lawsuit said the program includes about 1.391 million Florida policies, with total coverage of nearly $367 billion.
Louisiana, Florida and the other states are challenging the new system, known as “Risk Rating 2.0: Equity in Action,” that changed the methodology for determining flood-insurance prices.
Among other things, the lawsuit alleges the system improperly considers “hypothetical” future risks and doesn’t properly account for mitigation projects to protect properties from flood damage.
Kia reclaims top spot in ranking of U.S. inventory efficiency
Kia reclaimed the top spot from Toyota in Cloud Theory’s May ranking of brand’s U.S. inventory efficiency. Toyota, Lexus and Honda all remain strong contenders.
Genesis GV70 production moves to the U.S.
Genesis moved production of its top-selling GV70 to its factory in Alabama, making it the luxury brand’s second model to be assembled in the U.S.
Ferrari does not need to buy other supercar makers, CEO says
“I don’t think it makes sense for us to buy other supercar makers,” Vigna said during a conference organized by Bloomberg.