Insurance-industry officials this weekend voiced strong support for the Obama administration's request to raise the National Flood Insurance Program's borrowing authority by 50 percent.
One industry official said it was "imperative" that Congress act promptly to increase the borrowing authority to $30.4 billion.
Another, saying that the request is a product of prior losses and poor pricing for flood insurance, urged that Congress include in the legislation incentives for states in flood-prone areas to impose uniform and strengthened building codes.
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