NU Online News Service, Feb 5, 10:25 a.m. EST

WASHINGTON–Rep. Barney Frank, D-Mass., chairman of the House Financial Services Committee, wants another House committee to take jurisdiction over the troubled and controversial National Flood Insurance Program.

A spokesman for the National Association of Professional Insurance Agents (PIA) voiced "skepticism" over Mr. Frank's comments, saying he doesn't see how "switching committee jurisdictions will adequately address the underlying problem, which is that Congress needs to set for itself a reasonable schedule to consider a comprehensive NFIP reform bill that includes a five-year reauthorization."

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