An executive in the Washington, DC office of The Heartland Institute praised the U.S. House of Representatives’ passage of The Flood Insurance Reform Act of 2011 (H.R. 1309). The bill re-authorizes NFIP for five years, moves many flood insurance rates towards actuarial adequacy, improves mapping standards, and strengthens the program’s finances.
“This bill is a real step forward and it’s by far the best reform of NFIP ever to pass the House. It creates conditions under which a larger private role in flood insurance will be possible,” said Eli Lehrer, Heartland’s vice president for Washington, DC operations.
“It’s good but not perfect,” Lehrer continued. “I am distressed in particular that so many self-described conservatives voted against an amendment offered by Jeff Flake that would have removed provisions to offer new business interruption and living expenses coverage. I am also concerned about amendments that delay mapping. All that said, it’s a good start and a good basis for conference with whatever the Senate passes.”
Lehrer can be reached at 202-615-0586 or [email protected].
The Heartland Institute is a 27-year-old national nonprofit organization with offices in Chicago, Illinois; Washington, DC; Austin, Texas; Tallahassee, Florida; and Columbus, Ohio. Its mission is to discover, develop, and promote free-market solutions to social and economic problems. For more information, visit our Web site or call 312/377-4000.