Expressing the association’s support, Keane stated, “The National Flood Insurance Program is essential to Americans and to the U.S. economy, and we strongly support your efforts to update it to reflect today’s risks, said Minkler. “Adopting the reforms found in H.R. 1682 would help to make the National Flood Insurance Program more actuarially sound and more effective at serving both consumers and taxpayers.”
The Big “I” is particularly satisfied that the bill will modernize the NFIP by increasing maximum coverage limits and by including, at the option of the consumer, the purchase of business interruption coverage, additional living expenses, replacement cost coverage for contents, and basement coverage.