Private Flood Insurance Update (NAR)

By Austin Perez, Russell W. Riggs

On March 2, 2016, the House Financial Services Committee voted 53-0 for the Flood Insurance Market Modernization Act (H.R. 2901). Sponsored by Reps. Dennis Ross (R-FL) and Patrick Murphy (D-FL), the bill encourages the development of private market options where property owners lack access to affordable coverage under the National Flood Insurance Program (NFIP).

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