Sen. Crapo Issues Statement at Hearing on National Flood Insurance Program, Part II
"During our last flood insurance hearing,
"An on-time, multi-year reauthorization; increasing flood insurance coverage through both the NFIP and private market; addressing barriers to meeting the needs and demands of their customers; and enhancing transparency of the Program's financial framework.
"Another takeaway from the hearing was that
"
"For instance, both the re-established
"I encourage
"Even so, there is still work to do.
"The NFIP expires at the end of September unless reauthorized by
"Working together, and balancing reforms that protect taxpayers and assist consumers, we can reauthorize the Program on time.
"To build upon our previous hearing, organizations representing a diverse set of the Program's stakeholders join us today to provide their recommendations.
"I look forward to engaging our witnesses on a number of important questions, including:
"How to offer consumers more choice by growing the private market and ensuring shared risk by both the government and private sector; how new and better technologies, such as LIDAR can be more incorporated in mapping; how to continue toward risk-based rates while balancing affordability; and how long the Program should be reauthorized.
"
"We have also been gathering priorities for the Program from committee members.
"I thank each of the witnesses for joining us today and look forward to hearing your ideas."
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