An insurance industry group is hoping that a hold placed on a bill in the Senate to reform the National Flood Insurance Program will not derail the legislation.

Sens. Mary Landrieu, D-La., and David Vitter, R-La., placed holds on the legislation, which would have phased out subsidies for secondary residences, increased participation in the flood program and forgiven the roughly $20 billion debt owed by the NFIP to the Treasury. Among the major criticisms being leveled is that the bill would lead to higher premiums for residents along the Gulf of Mexico and that there is no provision in the House version of the bill that would expand the NFIP to offer windstorm coverage to homeowners who have purchased flood insurance.

Want to continue reading?
Become a Free
PropertyCasualty360 Digital Reader.


  • All news coverage, best practices, and in-depth analysis.
  • Educational webcasts, resources from industry leaders, and informative newsletters.
  • Other award-winning websites including and

Already have an account?



Join PropertyCasualty360

Don’t miss crucial news and insights you need to make informed decisions for your P&C insurance business. Join now!

  • Unlimited access to - your roadmap to thriving in a disrupted environment
  • Access to other award-winning ALM websites including, and
  • Exclusive discounts on PropertyCasualty360, National Underwriter, Claims and ALM events

Already have an account? Sign In Now
Join PropertyCasualty360

Copyright © 2023 ALM Global, LLC. All Rights Reserved.