WASHINGTON–The House Financial Services Committee voted 38-29 to approve legislation yesterday that would expand the National Flood Insurance Program to offer wind damage coverage.
This fall, the legislation, HR 3121, will move to the House floor for action. It combines previously introduced flood reforms designed to increase the number of consumers in the program and reduce subsidies for some properties with a bill to add the wind coverage option.
The measure requiring windstorm insurance to be provided by the flood program was introduced earlier this year by Rep. Gene Taylor, D-Miss.
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