On Friday, Representative Daniel Donovan (R-NY) and Representative Kathleen Rice (D-NY), sponsored the Flood Insurance Transparency and Accountability Act of 2015. This bipartisan bill seeks to eliminate fraud from the FEMA flood insurance program, make the appeals procedure fairer for natural disaster victims, and facilitate the entire process.
In September, Rep. Donovan sponsored the Flood Insurance Mitigation and Policyholder Protection Act, which was also sponsored by Rice, along with other congress members from both parties. The newest bill seeks to eliminate fraud stemming from altered engineers' reports by giving the insurance policy holder the first copy of the report and the final engineering reports. It also ensures that claims would not be denied using the "earth movement" exclusion when earth movement is caused by a flooding event.
Read more about the Flood Insurance Transparency and Accountability Act of 2015.
The American Bankers Insurance Association (ABIA) hosts a monthly Flood Insurance Working Group. If you would like to know more about the ABIA's work with flood insurance reform, or would like to join our task force, please contact Sarah Ferman.