CRIST CALLS FOR MORE AFFORDABLE FLOOD INSURANCE

On September 30th of this year, the National Flood Insurance Program (NFIP) expires. A failure to reauthorize the program on time means mortgages in flood zones can't close, thus preventing the sale of homes in a flood zone - devastating for communities like Pinellas County.

This week, the House Committee on Financial Services considered flood insurance reauthorization legislation. Congressman Charlie Crist (D-St. Petersburg) offered two amendments, one repealing unnecessary rate hikes that hurt policyholders and make flood insurance less affordable. The second prevents NFIP policyholders from being forced out of the program and into the volatile private insurance market. Please find below video of Crist's remarks on these amendments during yesterday's committee proceedings.

"Pinellas families know the cost of flood insurance is already too darn high," said Crist. "We can, should, and must do better to address affordability issues while keeping the program accessible and dependable. We need to come together and do the right thing for middle class families, helping preserve the American dream of homeownership."

Crist raised serious concerns that affordability is not adequately addressed in the package. He also called for better mitigation options and highlighted the urgent need for timely reauthorization of the program homeowners across Pinellas County depend on for coverage.

Floridians account for more than one-third of all NFIP policies in the nation and paid almost $1 billion into the program last year, highlighting the importance of a strong, sustainable, and affordable program for homeowners across the state.

Read this original document at: https://crist.house.gov/news/documentsingle.aspx?DocumentID=220