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PIA Reaffirms Support for Reforms to NFIP

"For decades, the private insurance industry has been almost entirely unwilling to underwrite flood insurance because of the catastrophic nature of these disasters. This...
February 8, 2011

PIA National has issued a statement reaffirming its support for reforms to the National Flood Insurance Program (NFIP).

"For decades, the private insurance industry has been almost entirely unwilling to underwrite flood insurance because of the catastrophic nature of these disasters. This situation has not changed," the PIA statement says. "While the program is in need of substantive reforms, the need for the NFIP is not diminished."

"The Majority staff of the House Financial Affairs Committee has indicated that the committee will review and consider reforms to the NFIP," the statement continues. "PIA strongly supports this plan and recommends that the committee use as a starting point the Flood Insurance Reform and Priorities Act of 2010, which was passed overwhelmingly on a bipartisan basis in the House last year." You can read the entire statement here.

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