State Insurance Regulators Applaud Congressional Efforts to Reauthorize the NFIP

Statement from NAIC:

The NAIC appreciates the House of Representatives' efforts to advance a National Flood Insurance Program (NFIP) reauthorization bill prior to the program's December 8 expiration. In addition to providing certainty with a long-term reauthorization that consumers can rely on and enhanced mitigation efforts, we are pleased the bill includes legislation (H.R. 1422) from Reps. Dennis A. Ross (R-FL) and Kathy Castor (D-FL) to facilitate the growth of a state-regulated private flood insurance market to provide consumers with more choices. We urge the Senate to act promptly to reauthorize the program prior to its expiration and encourage them to include similar reforms supporting private sector participation in these markets.