A House panel has reported out flood insurance legislation and two other bills dealing with natural catastrophes, but only the flood program extension has unanimous industry backing.
Last Tuesday, the House Financial Services Committee cleared the Flood Insurance Reform Priorities Act of 2010, H.R. 5114, for a floor vote. No date has been set for House floor action.
Besides extending the National Flood Insurance Program for five years, H.R. 5114 includes limited changes for the program, such as increasing the maximum coverage limits for flood insurance policies.
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