House passed flood insurance bill Includes windstorm, business interruption options

Monday, October 1st, 2007 Catastrophe Legislation & Regulation Property

The U.S. House of Representatives has passed a measure updating the nation’s flood insurance program that will give homeowners the option of purchasing windstorm coverage as part of their flood policy. The legislation also reauthorizes the National Flood Insurance Program for five years through 2013, improves flood mapping, eliminates some rate subsidies, and adds business interruption coverage as an option.

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http://www.insurancejournal.com/news/national/2007/09/28/83879.htm

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