Citing lessons learned from 2012’s Biggert-Waters flood act, Rep. Maxine Waters (D-California) vowed to protect the policyholder and to oppose substantial rate increases in flood insurance. Rep. Waters is the chairperson of the House Financial Services Committee where reform on the National Flood Insurance Program is being taken up on June 11.

Rep. Waters has expressed concern over FEMA’s new Risk Rating 2.0 stating that policyholders must be protected from substantial rate increases. Her priorities include continuing the purchase of reinsurance, forgiving the NFIP’s debt, and support for communities’ mitigation and floodplain management efforts.

Rep. Waters addressed the National Flood Conference in Washington, DC last week. Read her full comments in this article fromBusinessinsurance.com.

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