Government Affairs

The NAIC principles are intended to serve as recommendations for Congress to consider during upcoming discussions regarding reauthorization of the NFIP.

A new Government Accountability Office report cites regulatory uncertainty, refunds and market challenges as barriers to increased use of private market flood insurance policies.

Last week, 23 members of the U.S. House of Representatives sent a letter to FEMA requesting an increase in oversight of private insurers that participate in the NFIP.

At a U.S. Senate committee hearing last week, the Big “I” provided a statement on NFIP delivery, affordability and long-term program stability for small businesses.

Earlier this month, the Big “I” joined other stakeholders interested in the next NFIP reauthorization to discuss the flood program.

This week, Roy Wright, FEMA’s deputy associate administrator for insurance and mitigation, announced NFIP changes aimed at increasing transparency and oversight.

At this week’s National Flood Conference in Washington, D.C., a variety of speakers—including two Big “I” leaders—provided information to flood service providers on all aspects of the NFIP.

Today, the U.S. House of Representatives passed H.R. 2901, the “Flood Insurance Market Parity and Modernization Act” by Reps. Dennis Ross (R-Florida) and Patrick Murphy (D-Florida), by a vote of 419-0.

At last week’s Big “I” Legislative Conference, agents and brokers met with almost every U.S. Senate and House of Representatives office to discuss the association’s top legislative concerns.

At the Big “I” Legislative Conference Breakfast last week, Sen. Chuck Schumer (D-New York) addressed insurance-related legislative initiatives relevant to his home state and the country: crop, flood and terrorism insurance.