Claims News Service, Oct. 18, 3:16 p.m. EDT — The Independent Insurance Agents & Brokers of America (the Big "I"), the nation's largest insurance association, is pleased that Congress is taking up the National Flood Insurance Program (NFIP) and looking at how to improve it.
The Senate Banking Committee today held a hearing to take a look at the program's structure and whether the program is actuarially viable. It is possible that legislation could be the end result of this hearing and a House Financial Services Committee hearing planned for Thursday.
One of the crucial questions surrounding this week's hearings is whether the NFIP should be more proactive in mandating mitigation for property owners whose homes lie in active flood plains.
Continue Reading for Free
Register and gain access to:
- Breaking insurance news and analysis, on-site and via our newsletters and custom alerts
- Weekly Insurance Speak podcast featuring exclusive interviews with industry leaders
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical converage of the employee benefits and financial advisory markets on our other ALM sites, BenefitsPRO and ThinkAdvisor
Already have an account? Sign In Now
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
