WASHINGTON--A bill to reform the National Flood Insurance Program that includes no cuts in company or agent commissions will be considered by the Senate Banking Committee Thursday.

Insurance industry trade groups, it was learned, have drafted a joint letter to Sen. Richard Shelby, R-Ala., the committee chairman, telling him they support the measure.

The Senate legislation is different from the companion House bill because it will require more policyholders to pay fair-market rates and more homeowners to participate in the program than called for in the House bill.

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