In June, the House Financial Services Committee introduced a package of bills to reauthorize the National Flood Insurance Program (NFIP). The NFIP is due to expire on September 30, 2017.  A number of changes have been proposed to HR 2874 that move the bill in the right direction; however, several significant concerns remain with the House package that FIRM feels need to be addressed before the bill comes to a vote.

FIRM has worked closely with Monroe County, Florida Association of Counties, and Members of Congress and their staff to advocate for reauthorization of the NFIP that provides sustainable and affordable flood insurance.  We thank Congressman Carlos Curbelo for listening to our concerns and opposing this bill.  The Congressman is a co-sponsor of legislation that is a companion bill to the SAFE-NFIP introduced into the Senate, legislation that FIRM supports.  Florida Senators Nelson and Rubio are co-sponsors of the Senate version.

The issues of concern in HR 2874 are grandfathering and pre-FIRM (flood insurance rate maps) properties, increased surcharges, elimination of coverage for properties with excessive lifetime claims, $10,000 annual premium cap, and annual premium increases.  You can read details about the concerns below and also read a section-by-section summary of the SAFE-NFIP legislation.

FIRM House Bill Concerns August 2017

SAFE-NFIP-Section-by-Section-6-13-17

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