The Selectmen on Tuesday worried about the impact new flood insurance rates will have on Wareham residents, and agreed to send a letter to Congress to express their concerns.

"This would be not just a hardship," said Selectman Alan Slavin. "This is a serious issue; we have five or six areas in town with a lot of flood insurance."

The Biggert-Waters Flood Insurance Reform Act was passed in an effort to reduce the financial burden of the federal flood insurance program that is funded by taxpayers.

Tax money will no longer subsidize the flood insurance program for homes built before the program was established. Also, there will be no more properties "grandfathered in" to previous flood insurance rates because they met the flood-zone requirements in place when they were built.

This means that property owners will be paying for insurance based on the actual risk posed to their home.

"Unfortunately, Wareham has a lot of [Federal Emergency Management Agency] insurance," said Slavin. "They're going to have to have what you call 'full- risk coverage.'"

Slavin was blunt about the impact on local homeowners: "Your rates will go up substantially."

The Flood Insurance Implementation Reform Act, co-sponsored by U.S. Rep. Bill Keating (D), would delay certain parts of the legislation from taking effect.

Flood insurance is only offered through the federal government because it is such a risky bet. Over the past decade, major storms have resulted in insurance claims that have outpaced premiums to such an extent that the costs could not be covered by the premiums.

Wareham Week reported last week that the Federal Emergency Management Agency estimated that cases in which homeowners see premiums that exceed $20,000 will be "rare", but local insurance agents warned that the South Coast is particularly vulnerable to the steep premium increases.

Selectman Chair Peter Teitelbaum said that Congress is revisiting the legislation to try to rectify these issues, and suggested that the board send a letter to Keating to voice its concerns.

Keating represents Massachusetts' ninth district, of which Wareham is a part.

Selectman Judy Whiteside noted the role of global warming in the increased frequency and intensity of storms, and said that in the long term, people simply will have to build further from the coast.

"As the world changes, the places people in the United States and other countries build are not going to be available," Whiteside said.