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Big ‘I’ Member Chris Heidrick to Testify in Congress on Flood Insurance

The hearing, which will be livestreamed, will examine the availability of flood insurance in the United States and the steps that can be taken to increase take-up rates.
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big “i” testifying before congress on flood insurance

On Friday, the U.S. House Financial Services Subcommittee on Housing and Insurance will hold a hearing entitled “How Do We Encourage Greater Flood Insurance in America?"

Big “I" member Chris Heidrick, owner and principal of Heidrick & Company Insurance and Risk Management Services in Sanibel, Florida, will testify on behalf of the association. Heidrick is also the former chair of the Big “I" Flood Insurance Subcommittee.

The hearing, which will be livestreamed, will examine the overall level and availability of flood insurance in the United States, as well as the steps that can be taken to encourage greater deployment of flood insurance coverage.

This is the first Housing and Insurance Subcommittee hearing of the 118th Congress and the first for the subcommittee's new chairman Rep. Warren Davidson (R-Ohio). Big “I" members and the wider public can livestream the hearing here. The session will commence tomorrow, March 10 at 9 a.m. ET.

The Big “I" supports policies to increase take-up rates, whether in the National Flood Insurance Program (NFIP) or the private market. Specifically, the Big “I" urges Congress to consider modest policy changes that could help grow the private market and protect consumers, such as clarifying requirements related to continuous coverage and midterm cancellations.

The Big “I" continues to remind Congress that independent insurance agents and brokers play a critical role in the sale and delivery of flood insurance and must continue to do so for consumer participation to increase. Any kind of proposal that undercuts the valuable and trusted role that agents play in this process could have a negative impact on flood insurance participation rates.

As Congress continues to discuss reauthorization of, and potential reforms to the NFIP, the Big “I" will continue to advocate for independent insurance agents and provide updates through the News & Views e-newsletter.

Raaed Haddad is Big “I" director of federal government affairs.