A November 4, 2017 article in the New York Times outlines major changes needed to the National Flood Insurance Program (NFIP) which is set to expire December 8, 2017.  The article focuses heavily on privatization of the Program, “The private market is anxious, willing and completely able to take everything except the severe repetitive-loss properties,” said Craig Poulton, chief executive of Poulton Associates, which underwrites American risks for Lloyd’s of London, the big international insurance marketplace.  This is cherry-picking to which FIRM is opposed.  Private companies should be required to take a full profile of risk.

The article goes on to explain the Administration’s efforts to eliminate repetitive loss properties from the program, which would include a great many properties in Monroe County.  FIRM is in favor of increasing mitigation funds to make those properties resilient, as proposed in the SAFE-NFIP Reform Act which enjoys bi-partisan support and now includes Senators Nelson and Rubio and Congressman Curbelo as co-sponsors.

Section by section outline of SAFE NFIP:  SAFE-NFIP-Section-by-Section-6-13-17

Read FIRM’s NFIP priorities: 2017 FIRM NFIP Agenda

You can read the New York Time article here:   nytimes.com-Now an unusual coalition of insurersenvironmentalists and fiscal conservativesis seeking major change (1)

 

 

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