NAMIC Applauds Advancement of Critical Disaster Mitigation Bill

The National Association of Mutual Insurance Companies made the following comment on today’s House Transportation and Infrastructure Committee’s passage of HR 5473, the Promoting Resilient Buildings Act of 2023:

“Increasing severe weather, more Americans moving to risky areas, and rising construction costs all add to a new era of risk,” said Jimi Grande, NAMIC’s senior vice president of federal and political affairs. “The committee vote today signals progress to help our communities better protect themselves financially from extreme weather.

“Federal disaster policy has made enormous strides in recent years in adopting proactive loss prevention strategies,” Grande said. “But those efforts have almost exclusively focused on new construction, yet most Americans live in existing homes. We urge the full House to take the crucial next step in expanding mitigation efforts to existing communities and infrastructure by passing this legislation.”

HR 5473 mandates the Federal Emergency Management Agency to begin implementing disaster mitigation grant programs established under the Disaster Relief and Recovery Act. The bill further clarifies that any state, local, or tribal government seeking funding would qualify for grants if they have adopted either of the two most recent model building codes from the International Code Council.

Further, during the committee markup, Rep. Dina Titus, D-Nev., won approval for an amendment establishing a pilot program funding grants to aid homeowners in retrofitting existing properties.