PIA Top Priority Private Flood Bill Introduced
PIA National thanks Congressmen Dennis Ross (R-FL), Kathy Castor (D-FL) and Senators Dean Heller (R-NV) and Jon Tester (D-MT) for introducing the Flood Insurance Market Parity and Modernization Act.
“This legislation, a top priority for PIA in 2017, seeks to encourage the development of a private flood insurance market, with strong consumer protections being overseen by state insurance regulators,” said PIA National Vice President of Government Relations Jon Gentile. “We thank the bill’s sponsors for their leadership on this important issue. PIA members from around the country will be in town next month for our Federal Legislative Summit asking members to support this measure,” Gentile said.
PIA opposes the immediate privatization of the National Flood Insurance Program (NFIP), but supports sensible solutions for encouraging the growth of the private flood insurance market with measures such as this. In addition, PIA supports the long-term reauthorization of the NFIP when it comes up for renewal later in 2017.