For the second time in the last four months, the Financial Services and Homeland Security Oversight Subcommittees has scheduled a hearing to examine some of the insurance issues that came to light in the aftermath of the 2005 hurricane season next week.

Specifically, the subcommittees will examine the National Flood Insurance Program (NFIP), the interaction between the NFIP and private insurers, and the allocation of wind vs. water insurance claims in light of preliminary findings from the Government Accountability Office and Department of Homeland Security.

The hearing was proposed by U.S. Representatives Melvin Watt (D-NC), who is chairman of the Financial Services Subcommittee on Oversight and Investigations, and Christopher Carney (D-PA), who is chairman of the Homeland Security Subcommittee on Management, Investigations, and Oversight. It will take place next week on Tuesday, June 12, 2007, at 2:30 p.m. EDT.