FOR IMMEDIATE RELEASE
Federal Association for Insurance Reform (FAIR) sends Letter to Congress: NFIP Reauthorization, Risk Rating 2.0, & Affordability
This morning, FAIR sent a letter to the House Committee on Financial Services and the Senate Committee on Banking, Housing, and Urban Affairs. Specifically, FAIR supports full, long-term reauthorization of the National Flood Insurance Program (NFIP) provided that necessary improvements are made to protect consumers. Necessary reforms include the creation of a means-tested affordability program, inclusion of a provision allowing for continuous coverage, and an alleviation of the NFIP’s debt load that will make the NFIP more sustainable, affordable, and attainable.
“The NFIP is a lifeline to consumers and a critical piece of our nation’s resilience and disaster preparedness. As we near the September 30, 2021 deadline to re-authorize and the launch of Risk Rating 2.0, FAIR felt that it was important to voice our support for full, long-term reauthorization of the program and to call for certain reforms to protect consumers.” – FAIR President, Paul Handerhan.
Click here to read the full letter to the House Committee on Financial Services.
Click here to read the full letter for the Senate Committee on Banking, Housing, and Urban Affairs.
