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PIA Applauds House Vote to Reauthorize National Flood Insurance Program

WASHINGTON, January 8, 2002 - The National Association of Professional Insurance Agents (PIA National) applauded today's vote by the U.S. House of Representatives to reauthorize...
January 8, 2003

WASHINGTON, January 8, 2002 - The National Association of Professional Insurance Agents (PIA National) applauded today's vote by the U.S. House of Representatives to reauthorize the National Flood Insurance Program (NFIP). Statutory authority for the flood insurance program had expired on December 31, 2002.

The House approved NFIP reauthorization by a voice vote. The Senate is expected to quickly follow suit.

"PIA applauds the quick action by the House to renew authorization for this important insurance program," said PIA Senior Vice President of Government Affairs Patricia A. Borowski. "PIA appreciates the recognition by House Financial Services Committee Chairman Oxley and Ranking Member Barney Frank that renewal of the federal flood insurance program needed to be at the top of the congressional agenda in January."

Borowski also thanked Federal Insurance and Mitigation Administration head Anthony S. Lowe and Deputy Administrator Howard Leikin for making specific changes in response to the concerns raised by PIA about the process and procedures used during the interim period between December 31, 2002 and the reauthorization.

PIA worked with a coalition of lender, insurance, banking, housing and realtor interests to secure NFIP reauthorization. Coalition participants included the National Association of Realtors, the American Bankers Association, America's Community Bankers, the American Insurance Association, Fannie Mae, Freddie Mac, the Mortgage Bankers Association of America, the National Association of Home Builders and the Financial Services Roundtable.

Founded in 1931, PIA is a national trade association that represents member insurance agents and their employees who sell and service all kinds of insurance, but specialize in coverage of automobiles, homes and businesses.