Flood Insurance Program Yet Again on Brink of Expiration

The National Flood Insurance Program (NFIP) is on the verge of lapsing yet again unless Congress acts to extend it before midnight December 20th. There are real consequences if the NFIP is permitted to lapse. While the Federal Emergency Management Agency (FEMA) would still be able to pay the claims of current policyholders, they would …

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NFIP’s Risk Rating 2.0 Delay Prompts PIA National to Renew Its Call for House to Pass Reauthorization Package

On November 7, the Federal Emergency Management Agency (FEMA) announced that it is delaying the implementation of Risk Rating 2.0, a major overhaul of flood insurance rates under the National Flood Insurance Program (NFIP). Risk Rating 2.0 is meant to provide more specific, accurate information about properties covered by the NFIP. Risk Rating 2.0 is …

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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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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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