Big ‘I’ Tells FEMA to Simplify the NFIP
The Big “I” submitted a comment letter urging FEMA to review complex underwriting procedures and update agent training policies.
Flood
Big ‘I’ Urges FHA to Rethink Private Flood
The Big “I” spearheaded the submission of a joint letter to the Federal Housing Administration urging the agency to amend its policy regarding acceptance of private flood insurance by lenders for FHA-insured loans.
Senators Introduce Bipartisan NFIP Bill
This week, Sens. Michael Crapo (R-Idaho) and Sherrod Brown (D-Ohio) introduced the “NFIP Reauthorization Act of 2017,” which would reauthorize the NFIP for six years.
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%.
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.
