- Repealing punitive flood insurance rate increases for properties built to code and above 100-year floodplain elevations at time of construction
- Reforming NFIP premiums to allow manageable premium increases so higher flood risk properties pay reasonable premiums to offset program losses
- Reserving against future catastrophic flood losses
To read about this bill please click this link House Bill 3370
If you agree, please contact your US Representative asking them to vote for this legislation. If you don’t know what to say here is a suggestion:
Subject: Support HR3370
I request that you vote in favor of H.R. 3370, the “Homeowner Flood Insurance Affordability Act” when the legislation comes before the House of Representatives on February 26th.
H.R. 3370 is important legislation that makes commonsense reforms to the National Flood Insurance Program (NFIP). Changes made to the NFIP by the 2012 Biggert-Waters Act are impractical and have led to exorbitant increases in flood insurance premiums, often on the basis of flawed flood insurance rate maps.
H.R. 3370 reforms the NFIP by ensuring flood maps are accurate, premiums are sustainable, and that higher risk properties do more to support the NFIP. H.R. 3370 protects the NFIP and taxpayers from future catastrophic losses by funding the NFIP’s reserve account and allowing the NFIP to purchase reinsurance in the private markets.
H.R. 3370 will help stabilize the NFIP, protect taxpayers, and ensure that homeowners and businesses have access to affordable, appropriately priced flood insurance coverage.
Thank you for your consideration of my views, and again I request that you vote in favor of H.R. 3370.