For Immediate Release: May 25, 2017
Contact: William Gerlich, 212-390-8860
WASHINGTON, D.C.— SmarterSafer.org, a national coalition of taxpayer advocates, environmental groups, insurance interests, housing organizations and mitigation advocates, applauded the U.S. House Financial Services Committee today for releasing a series of legislative proposals that would reauthorize and reform National Flood Insurance Program (NFIP). In a statement, SmarterSafer said:
“While we are still reviewing the details, the legislative proposals released today by the House Financial Services Committee appear to be a significant step toward comprehensively reforming the debt-ridden NFIP. Our coalition is encouraged to see the Committee take steps to implement some of the recommendations outlined in SmarterSafer’s NFIP proposal, such as investing in mitigation, seeking solutions on affordability, purchasing additional reinsurance and opening the flood insurance marketplace to private sector competition. Congress should also ensure that the final reform proposal includes more accurate property level mapping and moves toward funding mitigation instead of continued subsidies of insurance premiums—the best way for Congress to reduce rates is by reducing risk.
“Putting these reforms into place will help Americans reduce damage from future storms while ensuring that the federal program remains sustainable for years to come, so we look forward to working with policymakers to advance these critical goals.”
SmarterSafer.org is a national coalition that is made up of a diverse chorus of voices united in favor of environmentally responsible, fiscally sound approaches to natural catastrophe policy that promote public safety. The coalition believes that the Federal government has a role in encouraging and helping homeowners to undertake mitigation efforts to safeguard their homes against natural disasters. At the same time, the coalition opposes measures that put people’s lives at risk at the expense of taxpayers. Measures such as subsidizing artificially low rates for homeowners’ insurance policies help to encourage construction in environmentally sensitive and unsafe areas. The coalition is working to ensure that Congress does not incentivize people to live in harm’s way in places prone to hurricanes and floods.