Higgins, Pallone Reintroduce Bipartisan Legislation To Reform National Flood Insurance Program

The following information was released by the office of Louisiana Rep. Clay Higgins:

Congressman Clay Higgins (R-LA) and Congressman Frank Pallone (D-NJ) re-introduced H.R. 5484, theNational Flood Insurance Program Reauthorization Act(NFIP-RE), a bipartisan bill to reform and extend NFIP.

This legislation would reauthorize the program for five years, providing stability and peace of mind for homeowners and smallbusinessesaffected by flooding, as well as implementing sweeping reforms to reduce costs and invest in flood mitigation.

Since beingelected, CongressmanHiggins has supported reauthorization of the NFIP and called for significant reforms to the program. In addition to his advocacy for a long-term reauthorization and reform bill, Congressman Higgins has also sponsored standalone legislation to extend NFIP during a government shutdown.

Congressman Higgins said,Hardworking Americans find it increasinglydifficultto afford homeowners and flood insurance, especially in South Louisiana. For millions, the NFIP is the only option. However, Risk Rating 2.0 is a flawed methodology and has made flood insurancefar too expensivefor many Americans. Congress must act toensure that flood insurance is transparent,attainable,and fairforAmericans. My office will continue to fight for a long-term authorization that protects affordability and improves the NFIP for Louisiana residents.

Groups supporting this legislation include the National League of Cities, the US Conference of Mayors, the National Association of Counties, the American Policyholders Association, Greater New Orleans, Inc., and the Coalition for Sustainable Flood Insurance.

The post HIGGINS, PALLONE REINTRODUCE BIPARTISAN LEGISLATION TO REFORM NATIONAL FLOOD INSURANCE PROGRAM appeared first on Insurance News | InsuranceNewsNet.