NFIP Legislative Activity
There has been a recent flurry of legislative activity with the NFIP that impacts you!
NFIP Extended to September 30th: This past week, the NFIP was extended until September 30th which was part of the disaster supplemental that had been previously blocked. The passage of the disaster supplemental now allows the NFIP to be extended and a continuation of the legislative process.
House Financial Services unanimously passes H.R. 3167, NFIP Reauthorization Act of 2019: The bills, formalized from earlier discussion drafts, provide a long-term reauthorization to the National Flood Insurance Program along with other reforms. The bills are broken into four sections: Affordability, Mapping, Mitigation, and Claims Along with affordability measures, the bills enhance mitigation measures and extends the NFIP for five years. The next step in the process is to have the House pass the legislation and hope that the Senate is as proactive as the House.
Click here for a one page summary
Click here for a section by section summary
NFIP Releases Claims and Policy Data: The NFIP released millions of pieces of redacted data this week. The includes data on every individual flood insurance claim going back to 1978 and every policy sold going back a decade (all redacted). The files are large and at times hard to navigate, but can be all found here: https://www.fema.gov/media-library/collections/339
The data should help the continued development of private flood insurance and help us better understand where our flood risk is.
