The Repeatedly Flooded Communities Preparation Act (S.1445) would require communities to map repeatedly flooded properties and infrastructure as well as develop and implement a plan to mitigate current risks. Communities would be required to share these plans with the public and to provide updates on the community progress to the Federal Emergency Management Agency (FEMA).
The bill drew praise from the Property Casualty Insurers Association of America (PCI).
“PCI applauds Sens. Scott and Schatz for their leadership on this important issue,” Nat Wienecke, senior vice president of federal government relations at PCI, said. “Flooding is the most common type of natural disaster loss in our country. This bipartisan legislation includes measures, such as improving risk mapping and preparedness, that will better protect families and businesses and minimize losses due to flood.”
These reforms would also put the National Flood Insurance Program on more sound financial footing, which is critical to ensuring continued flood insurance protection for consumers, he said.
“PCI calls on Congress to take up and pass this legislation to better protect families and businesses and strengthen the financial solvency of the NFIP,” Wienecke said.
PCI members write $202 billion in annual premium, 35 percent of the nation’s property casualty insurance.