Hill Votes to Strengthen Flood Insurance Program, Help Americans in Flood Risk Areas

November 14, 2017

Media Contact: Caroline Thorman

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Hill Votes to Strengthen Flood Insurance Program, Help Americans in Flood Risk Areas

WASHINGTON - Congressman French Hill (AR-02) issued the following statement after supporting legislation to reauthorize and reform the National Flood Insurance Program (NFIP):

"The current flood program is unsustainable and broken. This legislation makes significant structural reforms that provide consumers with more choice and more information about flood risks. Through mitigation, curtailing repetitive losses, and the use of reinsurance, these changes will place the existing program on sounder footing. By passing this legislation today, it will help provide much-needed reforms to the program, paving the way for responsible oversight and transition to market-based solutions.

"I thank Financial Services Committee Chairman Jeb Hensarling (R-TX) and Chairman for the House Financial Services Subcommittee on Housing and Insurance Sean Duffy (R-WI) for their leadership on this legislation, and for my colleagues who worked hard to ensure the passage of this common sense bill in committee."

Background:

The 21st Century Flood Reform Act, H.R. 2874, reauthorizes the National Flood Insurance Program (NFIP) for five years, introduces private market competition, and provides programmatic reforms to help policyholders.