You are here:HomeIssuesFlood Insurance2012PIA Attends NAIC Summit on NFIP Reforms

PIA Attends NAIC Summit on NFIP Reforms

Immediately after the conclusion of its summer meeting, the NAIC and its Center for Insurance Policy and Research (CIPR), held a special summit on flood insurance reform
August 23, 2012

Immediately after the conclusion of its summer meeting, the NAIC and its Center for Insurance Policy and Research (CIPR), held a special summit on flood insurance reform. The summit was hosted by the Mississippi Insurance Commissioner Mike Chaney and featured speakers included Ed Connor from FEMA, Jeff Czajkowski and Howard Kunreuther from the Wharton School of Business at the University of Pennsylvania. PIA attended the summit.

Connor said it will be a real challenge to explain to people why their flood insurance premiums are increasing. As FEMA looks to implement the congressional mandate to move to risk-based premiums, independent agents will be on the front lines of dealing with consumers who will be asking tough questions regarding their premium increases.

PIA National Secretary/Assistant Treasurer Richard Clements is leading PIA’s efforts in the area of flood insurance as PIA National’s representative to the National Flood Insurance Program (NFIP) and the Flood Insurance Producers National Committee (FIPNC). He is working with FEMA/NFIP along with FIPNC, the Institute for Business and Home Safety (IBHS) and Write-Your-Own carriers providing questions and suggestions about how to implement the many changes included in the new five-year NFIP reauthorization and reform law.

Filed under: