U.S. Congress wades into flood insurance overhaul

  Thursday, March 10th, 2011 Source: Business Insurance

The U.S. Congress is pulling on its hip waders again to try to rescue a government policy wreck left over from 2005’s Hurricane Katrina. The National Flood Insurance Program, badly damaged by the costliest natural disaster in U.S. history as well as long neglect, has defied attempts at reform for five years. That’s not stopping Rep. Judy Biggert, R-Ill. On Friday, the soft-spoken Republican chairman of the House of Representatives insurance subcommittee will tackle the troubled NFIP, just as record U.S. winter snows threaten to cause heavy spring floods.

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