Agents Lobby To Reform Natl Flood Program
Monday, March 29th, 2004 Catastrophe Property Risk ManagementMembers of the Independent Agents and Brokers of America (IIABA) testified before a Senate committee to make a case for renewal and reform of the National Flood Insurance Program (NFIP). Bill Stiglitz, an agent with Hyland, Block, Hyland Insurance of Louisville, Ky. and an IIABA elected national officer, testified before the Senate Banking Committee. In his remarks, Stiglitz presented IIABA's recommendations for five reforms that would improve the program's solvency and better protect property owners. In his remarks, Stiglitz reiterated that IIABA supports legislation that would renew the NFIP, which was passed by the House in 2003 and awaits action in the Senate. The House-passed bill—the Two Floods and You Are Out of the Taxpayers' Pocket Act (H.R. 253)—is undergoing serious review and discussion in the Senate.
