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PIA Thanks All Who Aided in Successful Effort to Secure Reauthorization of Flood Insurance Program

WASHINGTON, January 14, 2003 - The National Association of Professional Insurance Agents (PIA National) today thanked everyone involved in the successful effort to secure reauthorization...
January 14, 2003

President Bush Signs NFIP Bill Passed Unanimously by Congress

WASHINGTON, January 14, 2003 - The National Association of Professional Insurance Agents (PIA National) today thanked everyone involved in the successful effort to secure reauthorization of the National Flood Insurance Program (NFIP).

President Bush signed H.R. 11 into law on Monday, January 13, retroactively reauthorizing the NFIP as of January 1, 2003. Both the U.S. House of Representatives and the Senate unanimously approved the bill last week. The program, which provides flood insurance for approximately 90 per cent of properties located in designated floodplains in the United States, had expired at the end of 2002 after Congress failed to pass a reauthorization.

 "PIA would like to express its heartfelt thanks to all of the parties that helped secure reauthorization of the National Flood Insurance Program by being proactive and positive," said PIA Senior Vice President of Government Affairs Patricia A. Borowski. "Insurance industry representatives, banking regulators, private sector lenders, real estate groups, insurance carriers and agents, and builders all took a calm, practical, pro-consumer position focusing on how we could get this done so that property transactions were not interrupted, rather than create consumer hysteria."

"That practical, can-do attitude keeps building here in Washington," Borowski said. "It is a good thing that serves PIA members and their clients."

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.

Borowski thanked President Bush and members of Congress for their quick action. She also thanked Federal Insurance and Mitigation Administration head Anthony S. Lowe and Deputy Administrator Howard Leikin and their staff 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.

The agents association said support for the flood insurance program was universal.

"PIA lobbied members of Congress over the holidays to drive home the point that reauthorization of the flood insurance program needed to be the first item of business when Congress returned," said PIA Director of Political Affairs Kellie Bray. "In all of our congressional visits, we found unanimous support. It is quite unusual and very heartening to go to Capitol Hill and encounter no opposition whatsoever to a position we are advocating."

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.