Capitol Beat

Testifying before Congress, the Independent Insurance Agents of America advocated a series of reforms for the National Flood Insurance Program intended to reverse the program‘s operating losses. Among the five reform principles offered by the IIAA is mandatory disclosure of the flood history of property through the creation of an accessible electronic database of flood losses. Other reforms proposed by the IIAA include strengthening NFIP building regulations to require that new construction in floodplains incorporate safeguards against flood damage and that existing structures scheduled for substantial improvements also incorporate flood safeguards. Citing Federal Emergency Management Agency data that fewer than 20 percent of buildings in flood-prone areas are actually covered by flood insurance, the IIAA also recommended increasing compliance with the mandatory-purchase requirement. Additional resources should be allocated for mitigation