Senior Vice President, Government Affairs
National Association of Mutual Insurance Companies
It is good news that the House voted to keep the NFIP going, but Americans who face the devastating peril of flooding should be able to hold Congress to a higher standard than simply avoiding a lapse. The time for doing the bare minimum is long past. It has been over eight months since the House passed commonsense reforms that would protect policyholders, fiscally strengthen the program, and ease some of the multi-billion-dollar burden on taxpayers. Absent meaningful reforms it is irresponsible to continue down the path of short-term extensions and ignoring the fact that the NFIP has become more of a subsidy program than anything resembling insurance. Victims and the marketplace need certainty; the program should be reformed and extended for at least five years.