House Financial Services Committee
Housing and Insurance Subcommittee
How Do We Encourage Greater Flood Insurance Coverage in America?
On Friday, March 10, 2023, at 9 a.m. in Room 2128 of the Rayburn House Office Building, the Subcommittee on Housing and Insurance will hold a hearing titled “How Do We Encourage Greater Flood Insurance Coverage in America?” This hearing will examine the overall level and availability of flood insurance in America, as well as the steps that can be taken to encourage greater deployment of flood insurance coverage.
Hearing memo (which does not mention climate change)
Legislation:- H.R. ___, the “National Flood Insurance Program Extension Act of 2023” (Rep. Davidson) This discussion draft would extend the reauthorization and temporary borrowing authority of the NFIP through the end of December 2024. The current NFIP authorization is set to lapse after September 30th of this year.
- H.R. ___, the “NFIP Participation Study Act of 2023” This discussion draft would require GAO to conduct a study of the implementation and efficacy of the flood insurance mandatory purchase requirement of Section 102 of the Flood Disaster Protection Act of 1973 to ensure covered homeowners are in compliance with the law.
- H.R. ___, the “Consumer Options for Flood Insurance Act of 2023” This discussion draft would make permanent FEMA’s decision to remove the non-compete clause from its WYO contract with insurers that sell NFIP policies for the government.
- H.R. 900, a bill to amend the National Flood Insurance Act of 1968 to allow for the consideration of private flood insurance for the purposes of applying continuous coverage requirements, and for other purposes (Rep. Castor) This bill would allow NFIP policyholders with discounted rates who opt to purchase private insurance to return to the NFIP at a future date and resume those discounted rates if they have maintained continuous flood insurance coverage on their property without interruption.
- Julian A.P. Enoizi, Global Head of Public Sector, Guy Carpenter & Co.
- Christopher W. Heidrick, Owner and Principal, Heidrick & Company Insurance and Risk Management Services, LLC, on behalf of the Independent Insurance Agents and Brokers of America (The Big I)
- Patrick Small, President, DUAL Specialty Flood, on behalf of the Wholesale & Specialty Insurance Association (WSIA)
- Dr. Carlos E. Martín, David M. Rubenstein Fellow, Brookings Institution and Director of the Remodeling Futures Program, Harvard Joint Center for Housing Studies