Menendez launches Sandy task force to overhaul flood insurance program
"Your government failed you, plain and simple, and you deserve much, much better," Sen.
Around 50 people attended, largely from
The task force includes Sens.
It formed amid concerns that insurers working with the federal flood insurance program may have underpaid homeowners, in some cases by relying on reviews that altered engineers' original findings, often without homeowners' knowledge. The senators said the claims process threw up obstacles for people who had lost their homes and were trying to get payments they were entitled to after years of paying insurance premiums.
"We're here to listen," Fugate said, adding that the agency should pay what it owes.
But he and the senators raised concerns that in the zeal to avoid overpayments to policyholders, the
The vast majority of flood insurance policies come through the federal government, because the cost through private insurers would be prohibitive.
Menendez hopes to reform the program, though it's unclear exactly how that will happen -- whether through a bill, or changes within
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