Today, a coalition of public policy groups sent an open letter to Congress calling for the enactment of reforms to the National Flood Insurance Program (NFIP). The program loses billions of dollars each year and it needs to incorporate policies that mitigate losses, as well as spread more flood risks to private sector insurers. To […]
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Don’t Forget Flood Insurance Reforms
Harvey and Irma are gone, leaving devastation in their wake. Jose is headed away from our east coast, and then there is Maria. These are just the latest crop of significant Atlantic storms. We go through watchful waiting for hurricanes every year. Sometimes it amounts to paranoia and sometimes they really are out to get […]
Consumers Deserve More Choice for Flood Insurance
Dear Chairman Crapo and Ranking Member Brown: I am writing to urge the Committee to include the bipartisan Flood Insurance Market Parity and Modernization Act in any reauthorization bill. This bill, which passed the House 419-0 last year and recently passed out of the House Financial Services Committee unanimously is needed to clarify that consumers […]
Coalition Letter Urges National Flood Insurance Reforms
Twelve groups — including the National Wildlife Federation, R-Street Institute, National Housing Conference and American Rivers — sent a letter to the Financial Services Committee urging support for various efforts to reform the National Flood Insurance Program, which is currently over $20 billion in debt. The letter is available online.
Coalition Letter to Congress: Reform NFIP to Support Private Flood Insurance
Today, a large group of nonprofit and taxpayer advocates submitted a letter to members of Congress urging them to promote the availability of private flood insurance as an alternative to the National Flood Insurance Program (NFIP). The current government program is $25 billion in the red. Allowing the private sector to provide these services to […]
Morning Consult: America’s Next President Must Plan for More Frequent Floods
This week’s presidential debate rightfully focused on how to protect America’s homeland, but failed to mention one of the nation’s most dangerous and growing threats: natural disasters. Multiple devastating floods have soaked the country at an alarming rate, killing at least 248 Americans since January 2015. With extreme weather events becoming more frequent, expensive and […]
Competition Can Give Flood Insurance Options
The window is quickly closing for Congress to provide New Jersey homeowners with new and better flood insurance options. Unless the Senate takes action now, property owners across the state could be left facing major issues when the next disaster strikes. More than 233,000 New Jersey home and business owners depend on the National Flood […]
Daily Caller: Goodbye Tropical Storm Colin, Hello CBO Study
Tropical Storm Colin left the southeastern states and headed toward the North Atlantic leaving up to 10 inches of rain, some wind damage and minor flooding. An estimate of damage to structures has yet to be completed, but compared with storms in recent years coastal residents have avoided hurricane-force devastation. Not so lucky are the residents exposed […]
Daily Journal: Preventing a Flood Insurance Crisis
This piece, published in the Daily Journal and written by Steve Pociask, discusses how to protect consumers from what has become a flood insurance crisis. To read the piece, visit the Daily Journal.
How to Prevent a Flood Insurance Crisis
Imagine a scenario in which New Jersey residents impacted by last month’s Nor’easter could not rely on flood insurance to help them rebuild their homes and businesses. Unless Congress takes action soon, this nightmare scenario could become a reality. The struggling federal flood insurance system is a man-made disaster more than a decade in the […]