House Committee Concludes Markup of Flood Legislation
One of the bills in the markup includes provisions that would cap WYO insurers’ reimbursement rate at 27.9% to administer the NFIP. Currently, the rate is 30.9%.
Flood
House Committee Considers NFIP Reauthorization Package
The legislation would reauthorize the NFIP for five years and addresses a variety of issues, including providing greater private market access, enhancing mitigation efforts and more.
House Holds Hearing on Flood Insurance Reform
This week, the Big “I” submitted testimony to a full committee hearing which examined the NFIP and several legislative proposals aimed at reforming the program.
Breaking: House Republicans Release NFIP Reform Proposal
Today, Republicans in the U.S. House of Representatives released six discussion draft bills and accompanying summaries.
Is 2017 the Dawn of a ‘New World’ for Flood Insurance?
As massive debt continues to loom heavy over the NFIP, a swell of private markets is targeting flood business—and new technology continues to make it easier for the entire insurance industry to get its arms around flood risk.
After Quiet April, NFIP Faces an Uncertain Future
As the NFIP heads for reauthorization later this year, the pressure will continue to build—particularly for agents who feel the burden of educating their clients about flood market uncertainty.
Congress Questions Flood Insurance Compensation
As Congress seeks to reform the NFIP before it expires on Sept. 30, it’s examining lowering the compensation that insurance companies and independent agents earn for administering the program.
Flood Insurance: Hot Topic on Capitol Hill
As the NFIP’s Sept. 30 expiration date looms, Congress is beginning to focus more on the program’s reauthorization and reform.
FEMA to Send Letters Informing NFIP Policyholders of Flood Risk
As required by the Homeowners Flood Insurance Affordability Act of 2014, starting this month, FEMA will send each NFIP policyholder a letter outlining their known flood risk and how it relates to their premium.
Big ‘I’ Briefs Congress on Flood Insurance
The briefing focused on why flood is different than other perils, where the private flood insurance market currently stands, how the NFIP operates and more.