Floridian consumer advocacy group FAIR announces nationwide expansion
Extending their efforts to a national campaign, FAIR's mission is to help close the flood insurance gap across the U.S.
The Federal Association for Insurance Reform (FAIR), a Florida-based non-partisan consumer advocacy group, announced its national expansion, working to reduce uninsured flood risk across the U.S.
FAIR defines itself as a non-partisan, non-profit consumer advocacy group that is dedicated to providing insurance consumers with quality coverage at affordable rates through balanced public policy.
Extending their efforts to a national campaign, FAIR says it will continue working to reduce property loss through better insurance coverage and proactive mitigation.
Flood risk: The greatest natural disaster threat in the U.S.
FAIR recognizes that flood risk is the most common natural disaster anywhere in the U.S. as 90% of all natural disasters in the country involve flooding. Floods have impacted all 50 states in the past five years, and yet the Insurance Information Institute (I.I.I.) survey found a gap in protection as only 15% of Americans are covered by flood insurance.
“Closing the flood protection gap is critical to the stability of property and insurance markets across the country. FAIR’s national expansion and dedication of resources to address flood risk throughout the United States exemplifies our commitment to educate and protect all Americans against flood risk,” Kevin McCarty, Chair of the FAIR Board of Directors, said in a statement.
McCarty is a former president of the National Association of Insurance Commissioners and a former Florida Insurance Commissioner.
“American home and business owners are more vulnerable to flooding than any other natural disaster, yet there are currently just over 5 million residential flood policies nationwide,” FAIR President and CEO Jay Neal said in a statement. “Modeling experts project that there should be as many as 40 million policies in force to adequately protect vulnerable properties. Achieving that goal will require both a strong National Flood Insurance Program and a robust private market.”
For more information, FAIR’s website details its policy initiatives, group missions and more.
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