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NAMIC Hurricane Resource Center complete news archive


Natural Disaster Bills Linger in the 111th Congress

(8/17/2010) - The middle of August traditionally marks the halfway point in the annual hurricane season for the Atlantic Ocean and experts have anticipated a busy and dangerous summer of storms. The aftermath of any major storm hitting the United States could be devastating, not only from a loss perspective, but also because of the potential response from the federal government. Although there are only a few weeks in September on the legislative calendar before Congress adjourns for a final campaign push, there remain several natural disaster issues on the table that may be addressed.


Sen. Lott Back to Work With Successor Against P/C Insurance Industry

(8/3/2010) - In 2005 former Sen. Trent Lott, R- Miss., lost his home to Hurricane Katrina. Aggrieved by what he saw as the poor handling of his insurance claims, he made it his business in the Senate to go after the property/casualty insurance industry, famously launching a campaign to repeal the McCarran-Ferguson limited antitrust exemption. Spurred on by NAMIC leadership, the industry fought back and Sen. Lott failed in his effort. It was thought that he ended his personal crusade against the industry when he left the Senate in 2007. However, it now appears that he is continuing to work behind the scenes as a Washington lobbyist to influence the debate over the National Flood Insurance Program.


For Second Time, House Leadership Pulls Wind Legislation Prior to Vote

(8/3/2010) - Late last week, moments before voting, the leadership of the House of Representatives decided for a second time to pull legislation from the House floor that would have added coverage for wind damage to the National Flood Insurance Program. The Multiple Peril Insurance Act, H.R. 1264, was introduced by Rep. Gene Taylor, D-Miss., and essentially would allow the federal government to offer a type of coverage that the private market handles adequately. Until the very last minute, NAMIC and a broad array of allies worked feverishly to educate members of Congress about the significant problems with the legislation. It now appears that we were successful in having leadership reconsider their decision to vote on this bill.


House Pulls Legislation Adding Wind Coverage to the NFIP

(7/27/2010) - Just moments before voting, the leadership of the House of Representatives decided to pull legislation from the House floor that would have added coverage for wind damage to the National Flood Insurance Program. The Multiple Peril Insurance Act, H.R. 1264, was introduced by Rep. Gene Taylor, D-Miss., and essentially would allow the federal government to offer a coverage that the private market handles adequately. Until the very last minute, NAMIC and a broad array of allies have weighed-in with members of Congress about the significant problems with the legislation. It now appears that we were successful in having leadership reconsider their decision to vote on this bill.


House Moves Long-Term NFIP Reform And Reauthorization

(7/20/2010) - Last week, the House of Representatives passed legislation that would extend and reform the National Flood Insurance Program (NFIP) for an additional five years.


Multi-Peril Bill On House Floor This Week

(7/20/2010) - 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.


National Flood Insurance Program Reauthorized

(7/6/2010) - The National Flood Insurance Program lapsed at midnight on May 31, 2010, and the program was on a hiatus for the month of June, during which companies were not permitted to write new policies, issue increased coverage on existing policies, or issue renewal policies.

NAMIC Applauds Senate Approval of NFIP Extension

(7/1/2010) - The National Association of Mutual Insurance Companies (NAMIC) welcomed Senate approval of legislation reauthorizing the National Flood Insurance Program through September passed by the House last week.

NAMIC Calls for Senate Action as House Approves NFIP Extension

(6/23/2010) - The National Association of Mutual Insurance Companies (NAMIC) called on members of the Senate to add their support to legislation reauthorizing the National Flood Insurance Program that has won approval by the House.

CBO Projects “Beach House Bailout” Cost at $1.7 Billion

(6/8/2010) - WASHINGTON (June 8, 2010) An estimate from the Congressional Budget Office(CBO) shows that legislation potentially putting the American taxpayers on the hook for Florida’s underfunded catastrophe fund would add to the already massive budget deficit, the National Association of Mutual Insurance Companies said today.

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