Senators Seek Input on Improving the NFIP

Sen. Cory Booker (D-NJ) and Sen. Bill Cassidy (R-LA) are soliciting feedback from the public on how to improve the National Flood Insurance Program (NFIP) ahead of the program’s Sept. 30 reauthorization deadline.

Some of the proposals Senators Booker and Cassidy are putting forward include:

• A cap on yearly premium increases.
• Establishing a new affordability program within the NFIP that will provide direct assistance to families most in need.
• The option for individuals to pay in monthly installments, making it easier to manage premium costs.
• Increasing coverage limits for structural damage to ensure families are better protected after a storm.
• Expanding investments in pre-disaster mitigation efforts that will better protect communities from future flooding while also providing a significant return on investment through reduced flood losses. .
• Addressing the long-term solvency of the NFIP while also implementing reforms to increase the transparency of insurance costs, claims and coverage.

Through Sept. 15, individuals may use this web page to learn more about the NFIP and the type of input being solicited, and then use this web form to provide feedback.

Senators Cassidy and Booker also released this letter, which includes additional information about the NFIP, the type of input being solicited, and the proposed reforms to the NFIP. The public is invited to craft responses to any of the questions enumerated in the letter. 

ASFPM will submit a formal response by the Sept. 15 deadline, and we encourage our members and partners to do the same. We have also had meetings with Senate Banking Committee members on their interest and intent to address NFIP with a long-term reauthorization and programmatic reforms. We hope to see draft language from the committee in the coming weeks and will continue to weigh in on the process.