Posted: 7/20/2010
Multi-Peril Bill On House Floor This Week
This week, the House of Representatives will consider legislation that would add coverage for wind damage to the National Flood Insurance Program. H.R. 1264, also know as “The Multiple Peril Insurance Act," sponsored by Rep. Gene Taylor, D-Miss., would potentially nationalize windstorm insurance coverage by allowing the NFIP to offer coverage at subsidized rates that the private market cannot compete with.