Reforms to the National Flood Insurance Program will be a priority on the U.S. Senate Banking Committee agenda when lawmakers return to Washington later this month, following a remedial initiative already well underway in the House.
The NFIP was the subject of a number of Senate Banking Committee hearings last fall after massive losses incurred during Hurricane Katrina overwhelmed the federal insurance program–and it was learned that many who should have purchased the coverage did not.
At the time, David Maurstad–then acting administrator and director of mitigation for the Federal Emergency Management Agency–was hammered with criticism from lawmakers over the NFIP's financial problems and the slow implementation of previously passed reforms.
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