In response to the amendment filed by Rep. Candice Miller (R-Mich) to the HR 1309 (the National Flood Insurance Program), called the Flood Insurance Reform Act of 2011, which would end the program, the National Association of Mutual Insurance Companies (NAMIC) has asked Congress not to proceed forward. According to senior vice president of federal and political affairs Jimi Grande, of NAMIC, “Eliminating the National Flood Insurance Program is the worst policy option out there.” He explained that while the National Flood Insurance Program (NFIP) is not perfect, it is…
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Missouri insurance agents vent frustrations over FEMA’s handling of flood insurance
In the states struggling to mitigate the damage caused by the flooding Missouri River, insurance agents are railing against FEMA. Agents claim that federal officials are at fault for causing widespread confusion amongst property owners by pressuring them to purchase flood insurance. The main issue is that these hastily solicited policies may not provide the coverage necessary to protect homeowners from the flooding river. Furthermore, several insurance companies in the affected area say that federal officials have been pressuring insurance agents to sell policies that specifically exclude any damage caused…
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