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PIA National Grassroots Alert: “Flood the Hill!”

Last week, PIA National launched a Grassroots Action Alert to “Flood the Hill” with industry messages to reform and renew the National Flood Insurance Program (NFIP) before it expires again on Thursday, May 31, 2012
May 15, 2012

Last week, PIA National launched a Grassroots Action Alert to “Flood the Hill” with industry messages to reform and renew the National Flood Insurance Program (NFIP) before it expires again on Thursday, May 31, 2012. Agents may have become accustomed to short-term extensions of the NFIP program (it has been extended on a short-term basis 12 times since Sept. 30, 2008), but now there is an opportunity to achieve a multi-year extension and Congress needs to hear from YOU to push the bill to the finish line.

PIA is conducting this grassroots campaign in conjunction with many organizations, both inside and outside our industry. The coalition includes the National Association of Realtors, the National Wildlife Federation, the Mortgage Bankers Association, the Nature Conservancy, the Consumer Bankers Association, and the American Land Title Association, the National Association of Mutual Insurance Companies (NAMIC), the Reinsurance Association of America and PIA.

Send your message to Congress right now! Just go here.

A coalition ad in which PIA is listed is appearing in Politico, Roll Call, The Hill, CQ Daily, and Congress Daily.

PIA Grassroots Alert: Pass the Flood Bill!

Read a full article on the NFIP coalition efforts: “Flood the Hill” Sees Groups Team Up (National Underwriter 5/1/12)

Read the NFIP letter that was sent to Senate leaders: Coalition Letter to Reid and McConnell (May 7, 2012)

Flood Legislative Update: As the May 31 expiration deadline draws closer, the likelihood of a five-year extension of the NFIP lessens. The Senate already has a number of short-term extensions introduced and ready to go.

On Wednesday May 16, the House is poised to act on a short-term extension under suspension of the rules (no recorded vote). The bill, which will be formally introduced May 15, will extend the NFIP for one month, until June 30, 2012. The bill will also allow lending institutions to accept private flood insurance to satisfy the federal flood insurance coverage requirement, as long as the private insurance meets the coverage requirements for flood insurance. The bill would also require that the Federal Emergency Management Agency (FEMA) and the Government Accountability Office (GAO) conduct separate studies to assess the options for privatizing NFIP. Moreover, the bill also requires FEMA and the GAO to conduct separate studies to assess options for offering voluntary community-based flood insurance policy options and incorporating such options into NFIP.

The bill will be debated for 40 minutes and amendments will not be allowed. Should it pass, the Senate will still need to act on it.

PIA comments on rapidly unfolding developments in National Underwriter: Late on May 15, PIA National commented on the rapidly unfolding developments regarding the NFIP in an article in the National Underwriter. PIA National’s Mike Becker said a one-month extension bill about to be introduced by Rep. Judy Biggert (R-Ill.) providing for a one-month extension could allow for additional time for the Senate to act on a longer-term extension. “PIA shares Rep. Biggert’s frustrations. We are so close to getting what is really needed, a five-year reauthorization with reforms,” Becker said, adding “while a one- or two-month extension will also keep the issue in front of Congress, PIA’s main objective remains seeing a long term bill enacted.”

Read more on a short-term extension of NFIP: Expected Bill Would Extend NFIP One Month (National Underwriter 5/15/12)

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