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PIA Lauds Congressional Passage of Flood Insurance Bill

WASHINGTON, June 21, 2004 - The National Association of Professional Insurance Agents (PIA) expressed appreciation to Congress following today's final vote to reauthorize...
June 21, 2004

Multi Year Authorization, Reforms Will Bring Needed Stability to NFIP

WASHINGTON, June 21, 2004  - The National Association of Professional Insurance Agents (PIA) expressed appreciation to Congress following today's final vote to reauthorize the National Flood Insurance Program (NFIP) and thanked everyone involved in the successful effort to secure reauthorization. 

The House of Representatives today passed and sent to President Bush a bill approved June 15 by the Senate that provides for a multi-year reauthorization of the NFIP.  The bill also makes a series of reforms to the program that backs approximately 95 percent of the flood insurance sold in the United States.

"PIA expresses it's thanks to Members of Congress and their staffs who worked diligently to renew and reform the federal flood insurance program that our members and their clients depend on," said PIA Senior Vice President Patricia A. Borowski.

PIA conducted two nationwide grassroots action campaigns during June to provide added impetus to efforts to secure passage of legislation prior to the NFIP's scheduled expiration on June 30.

"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 National Assistant Vice President of Federal Affairs Peter Bizzozero. Insurance industry representatives, private sector lenders, real estate groups, insurance carriers and agents and builders all came together to bring about this positive legislative result."

"We would especially like to thank Representatives Mike Oxley (R-OH), Richard Baker (R-LA), Doug Bereuter (R-NE), Earl Blumenauer (D-OR),and  Senators Jim Bunning (R-KY), Richard Shelby (R-AL), Paul Sarbanes (D-MD), and Mary Landrieu (D-LA) for their leadership on this issue." Speaking to PIA members during their Federal Legislative Summit on March 25, Senator Bunning pledged that the final version of NFIP reauthorization would be for multiple years, to achieve a higher level of continuity and stability. For the past several years, the flood insurance program had been renewed with temporary authorizations, pending enactment of a comprehensive reform package.
 
PIA will continue to work with federal officials on implementation of the reforms.

In the 1960's, PIA (then known as the National Association of Mutual Insurance Agents) led successful efforts to create a federal insurance program providing needed flood coverage for homes and businesses. In fact, PIA members wrote the first 100 policies sold under the National Flood Insurance Program.  Today, PIA encourages its members to actively write flood insurance coverage for their clients. PIA is co-chair of the Flood Insurance Producers National Committee (FIPNC), an industry group co-founded by PIA in 1982 that advises the federal government on the flood insurance program.

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.