Rep. Rothfus Issues Statement on Passage of Bipartisan Flood Insurance Reform

WASHINGTON, Sept. 28 -- Rep. Keith Rothfus, R-Pa., issued the following statement after the House passed bipartisan legislation to encourage the creation of private flood insurance markets:

"I'm proud to see members on both sides of the aisle come together and pass these important reforms to our flood insurance market.

"Introducing a private sector solution to the flood insurance marketplace will give Americans better options that specially address their insurance needs. I commend my colleagues, Representatives Dennis Ross and Kathy Castor for their leadership on this issue."

He also added, "According Pennsylvania's former Insurance Commissioner Teresa Miller, competition in the flood insurance market provides more choices and better prices for Pennsylvanians. She noted in her testimony to the Financial Services Committee that in one instance a property owner was able to find private coverage for $1,415 rather than paying the $7,500 annual premium for NFIP insurance."

More information about the Flood Insurance Market Parity and Modernization Act can be found here (https://financialservices.house.gov/news/documentsingle.aspx?DocumentID=402359) and here (https://www.congress.gov/115/bills/hr1422/BILLS-115hr1422rh.pdf).

Former Commissioner Miller's testimony can be found here (https://financialservices.house.gov/calendar/eventsingle.aspx?EventID=400153).