On April 28, 2016, the U.S. House of Representatives passed the Flood Insurance Market Parity and Modernization Act (H.R. 2901) on a 419–0 vote.
NAPSLO strongly supports this legislation because it makes clear to lenders that they may accept private flood insurance solutions just as they had prior to the Biggert-Waters Act of 2012. We believe it is critical that surplus lines insurers are eligible to offer private market solutions and alternatives to consumers with unique and complex flood risks.
More consumer choice
This bipartisan legislation encourages competition and will provide more consumer choice, which is a win for the insured and the National Flood Insurance Program (NFIP).
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