The National Association of Mutual Insurance Companies is asking the Senate to resist calls to delay or rescind scheduled flood insurance rate increases, arguing that the rates must adequately reflect the risks.
The NAMIC letter was sent to the Senate legislative leadership Wednesday apparently out of concern that some members of the Senate would try to insert such language in legislation yesterday that raised the debt ceiling and ended the federal-government shutdown.
While the bill did include several provisions not directly related to the two critical issues, provisions touching on the flood insurance rate hikes, which are part of National Flood Insurance Program reforms passed in 2012, were not included.
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