FSR Letter of Support for Flood Insurance Reform Legislative Package

WASHINGTON, June 15 -- The Financial Services Roundtable issued the following news release:

The Financial Services Roundtable (FSR) applauds the Committee on Financial Services' work to reauthorize the National Flood Insurance Program (NFIP) prior to its September 30, 2017, expiration. The Committee has worked with interested parties to craft the legislation and continues to seek stakeholder input to improve policy. FSR appreciates the Committee's leadership and supports the reauthorization and reform legislative package.

The legislative package proposes reforms to improve the consumer experience and increase private sector involvement. A key component of the flood insurance marketplace is the WriteYour-Own (WYO) insurance program. Many reforms in the legislative package will better enable WYOs to deliver insurance coverage to consumers. Importantly, we understand that the Committee will consider key changes to address certain concerns that impact how WYOs operate, process claims, and serve policyholders. We thank you for your work to address these concerns and appreciate your openness to work on additional refinements as necessary.

To read FSR's full letter to the Financial Services Committee, click here (http://www.fsroundtable.org/wp-content/uploads/2017/06/FSR-Support-for-Flood-Package-6.15.2017-1.pdf).