WASHINGTON—The Property Casualty Insurers Association of America (PCI) opposes the inclusion of language from H.R. 920, the Multiple Peril Insurance Act, within a larger flood reform bill, H.R. 3121, which passed the House of Representatives Thursday.
PCI believes that, while the inclusion of wind coverage within the National Flood Insurance Program (NFIP) is well-intentioned, it may produce unintended negative consequences for millions of American insurance consumers. The association reiterates its support for a comprehensive public policy solution that supports private market initiatives, stronger building codes and land use regulations—backed up, where needed, by state catastrophe funds and limited, high-level federal financial support for responsibly managed state funds.
PCI urges the Senate to pass flood legislation that does not include the wind provision.
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