NAMIC CEO Charles M. Chamness will join Sens. Jon Tester (D-MT) and David Vitter (R-LA) at a Capitol Hill news conference tomorrow to urge Senate Majority Leader Harry Reid (D-NV) to schedule a vote on legislation to reform and reauthorize the National Flood Insurance Program.
The Flood Insurance Reform and Modernization Act of 2011 was passed without opposition by the Senate Banking Committee on September 8, 2011. The legislation would enact significant reforms to the program that would move it closer to financial stability and further from taxpayers’ wallets. More than 5.6 million policyholders depend on the NFIP as their main source of protection against flooding, the most common natural disaster in the United States. A long-term extension is necessary to provide certainty to recovering housing, insurance and financial markets.
Homeowners, small business owners, builders, realtors, mortgage lenders, investors, insurance agents and insurance companies all depend on the NFIP for flood damage protection.
Contact: Jimi Grande
Senior Vice President, Federal and Political Affairs