Washington–The Senate Banking Committee said it will hold a hearing next week to examine the functioning of the National Flood Insurance Program and how to improve it.
Andrew Gray, a spokesman for the committee, said the hearing next Wednesday will take a "structural look at the entire national flood insurance program."
He said it will examine such issues as whether the program is actuarially viable and whether claims are being paid on time. Although he said there is no specific legislation on the flood insurance program pending before the committee, he added that a bill could be drafted in the future.
Want to continue reading?
Become a Free PropertyCasualty360 Digital Reader
Your access to unlimited PropertyCasualty360 content isn’t changing.
Once you are an ALM digital member, you’ll receive:
- Breaking insurance news and analysis, on-site and via our newsletters and custom alerts
- Weekly Insurance Speak podcast featuring exclusive interviews with industry leaders
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical converage of the employee benefits and financial advisory markets on our other ALM sites, BenefitsPRO and ThinkAdvisor
Already have an account? Sign In Now
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
