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).
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.
