![]() ![]() The Coalition for Sustainable Flood Insurance (CSFI) appreciates Senators Cassidy and Menendez’s continued championship of NFIP and commends all Members of Congress who are responding to their constituents need for accessible, affordable, and transparent flood insurance.” President and CEO Michael Hecht: “This legislation will benefit both policyholders, and the program itself, at many levels, including, but not limited to: forbearing NFIP interest payments, reinvesting up to $620 million of annual savings into flood mitigation, and authorizing a means-tested affordability program. We appreciate Senator Bill Cassidy working to reform the National Flood Insurance Programs, so all this is possible.” So we need flood insurance policies that are transparent, accountable, and most importantly, affordable. Home Builders Association of Greater Baton Rouge President and CEO Karen Zito: “Home builders in the Capital Region won’t be able to build and sell homes if people can’t buy them. We appreciate his thoughtful leadership on this issue.” Senator Cassidy’s legislation recognizes that, and takes steps to boost participation, correct flood maps, incentivize mitigation, and protect homeowners against Risk Rating 2.0. Together, we can keep New Orleans affordable for our families and businesses.”īaton Rouge Area Chamber President and CEO Adam Knapp: “The Great Flood of 2016 and other weather events demonstrate the need for affordable flood insurance in Louisiana’s Capital Region. We need bold action by Congress to stop this, and Senator Cassidy’s legislation is a great start. New Orleans Chamber of Commerce President and CEO Sandra Lindquist: “Homeowners in the New Orleans area have seen their flood insurance rates double and even triple in the past few years, with more rate hikes to come. ![]() “We need to ensure families are not priced out of the program.” “Reforming the NFIP means making it affordable again,” said Dr. It will also implement a series of sweeping reforms to reduce costs, make generational investments in communities to reduce flood risk, and establish a fairer claims process for policyholders. This legislation would reauthorize the program for five years – providing greater stability for homeowners, small business owners, and the real estate market as the nation continues to struggle with inflationary pressures. Representatives Clay Higgins (R-LA-03) and Frank Pallone (D-NJ-06) recently introduced the bipartisan and bicameral National Flood Insurance Program Reauthorization (NFIP-RE) Act of 2023. 06.28.23 What They Are Saying: Cassidy, Menendez Legislation to Reform, Reauthorize the National Flood Insurance Program ![]()
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