For Immediate Release
April 15, 2011
SmarterSafer.org today launched a new website that features the latest news regardingefforts to reform the National Flood Insurance Program (NFIP). The coalition of taxpayeradvocates, environmental groups, insurance companies and others, said the new website –www.smartersafer.org – will provide valuable information and data as Congress moves forwardwith legislation to reform the troubled program.
“As Congress takes serious steps to reform the National Flood Insurance Program, it is necessaryto provide the timely, accurate information on how the program can be more viable andbetter protect property, the environment and human life,” said SmarterSafer.org. “The newSmarterSafer.org website features news, articles and views on legislation from a diverse set ofvoices that will be a valuable resource as NFIP reform moves forward.”
Last week, the House Financial Services Subcommittee on Insurance, Housing and CommunityOpportunity began the process of reforming the NFIP by marking up legislation offered bySubcommittee Chair Judy Biggert (R-IL). The draft bill contains a number of significantreforms, including requirements for FEMA to update its mapping efforts that reflectSmarterSafer.org’s own proposals.
The NFIP’s ability to provide flood insurance has grown endangered as a result of heavilysubsidized insurance rates that encourage development in high-risk floodplain locations and areinsufficient to cover the program’s losses. With a debt of over $18 billion, the NFIP is in anincreasingly precarious financial situation that threatens its viability. Reform is needed to restoresoundness and fairness to this broken program on behalf of taxpayers nationwide.
SmarterSafer.org is a national coalition made up of a diverse set of voices united to supportenvironmentally-responsible, fiscally-sound approaches that promote public safety. The Coalitionstrongly opposes legislative proposals that encourage people to build homes in hurricane-prone,environmentally-sensitive areas by creating new programs that directly or indirectly subsidize theirhomeowner’s insurance.
Contact: Matt Englehart