Proposed Flood Regulation Could Hurt Agents, Consumers

PIA National recently submitted comments in response to the July 8, 2019 Advanced Notice of Proposed Rulemaking (ANPR)[1] published by Federal Emergency Management Agency (FEMA) regarding the National Flood Insurance Program (NFIP). The ANPR outlines potential changes to the methodology currently used for payments to Write Your Own (WYO) insurance companies selling flood policies in …

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Flood Insurance Program Set to Expire Sept. 30 Absent Congressional Action

Congress returns from its August recess next week, and not a moment too soon. The National Flood Insurance Program (NFIP) is set to expire on September 30th if Congress doesn’t act to extend it. The NFIP is currently on its 12th short term extension since its last long-term renewal expired in September 2017. While Congress may …

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Member Spotlight: Congresswoman Nydia Velázquez

Nydia Velázquez is a Democratic Congresswoman who represents the 7th Congressional District of New York in the U.S. House of Representatives. Her metropolitan district is comprised of parts of Brooklyn, lower Manhattan, and Queens. Rep. Velázquez has served in the House since 1993, and she was the first Puerto Rican woman elected to the House …

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New NFIP Bill Poses Threat to Agent Commissions

On July 18, Senators Bob Menendez (D-NJ) and Bill Cassidy (R-LA) introduced bipartisan legislation, the National Flood Insurance Program Reauthorization and Reform Act of 2019 (S. 2187), to reauthorize the NFIP for five years. The bill’s 10 cosponsors are from both chambers and both sides of the aisle. A House companion bill (H.R. 3872) was introduced …

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House Committee Passes PIA-Supported Flood Reauthorization

On June 12th, the U.S. House Financial Services Committee passed PIA-supported bipartisan legislation to reform the National Flood Insurance Program (NFIP) and reauthorize it for five years. The compromise bill was released June 6 by House Financial Services Committee Chairwoman Maxine Waters (D-CA) and Ranking Member Patrick McHenry (R-NC). The NFIP is currently slated to …

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PIA-Backed NFIP Legislation to Be Marked Up This Week

The House Financial Services Committee is set to consider, or “mark up,” legislation that would reauthorize and reform the National Flood Insurance Program (NFIP) this week. PIA National is pleased to support legislation that would provide a five-year reauthorization of the NFIP, which is currently on its 12th short term extension since 2017. Two relevant …

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House Passes Disaster Relief Bill, Includes Extension of Flood Insurance to September

On the evening of June 3rd, the U.S. House passed H.R. 2157, disaster relief legislation that also includes an extension of the National Flood Insurance Program (NFIP) to September 30th. This comes after the House failed to extend the NFIP on three recent occasions, before finally passing a two-week extension on Thursday May 30th, which the …

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