The Independent Insurance Agents and Brokers of America recently submitted testimony to the House Financial Service Committee on ways to reform the National Flood Insurance Program. Although the association supported the National Flood Insurance Act of 2004, members now have concerns that certain areas of reform were not addressed in the law, which re-authorized the NFIP for five years.

The first principle that should be considered, according to IIABA, is a requirement that the Federal Emergency Management Agency disclose flood information prior to property purchases, with the creation of an accessible electronic database of flood losses.

The association also believes that NFIP building regulations need to be strengthened. Stronger regulations would require communities to ensure that new construction in flood plains includes safeguards against flood damage and that substantial improvements be made to existing buildings within flood plains.