Senate panel backs flood insurance changes

Thursday, October 18th, 2007 Catastrophe Legislation & Regulation Property

The U.S. Senate Banking Committee voted unanimously on Wednesday to reform federal flood insurance, but refused to follow the lead of the House of Representatives and expand the program to cover wind damage. The House last month voted to overhaul the almost 40-year-old National Flood Insurance Program, which was badly crippled by heavy hurricane property damage claims in 2005.

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http://news.yahoo.com/s/nm/20071017/pl_nm/floodinsurance_congress_dc_2

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