Flood Insurance Transparency And Accountability Act Aims To Reform NFIP

The National Flood Insurance Program could look a lot different if legislation introduced this week by two members of the House of Representatives secures congressional and White House approval. The Flood Insurance Transparency and Accountability Act of 2015, sponsored by Democrat Kathleen Rice and Republican Dan Donovan, seeks to reform the program that was accused earlier this year of fraud and underpaying homeowners after Superstorm Sandy. The legislation requires more transparency about the claims process from the Federal Emergency Management Agency and closes loopholes commonly used to deny coverage.