Congressman Mike Fitzpatrick Supports Reauthorization of National Flood Insurance Program

Press Release

With the support of Congressman Mike Fitzpatrick, the U.S. House of Representatives yesterday passed H.R. 1309, which provides for a five year extension of the National Flood Insurance Program, currently set to expire on September 30, 2011. The legislation would authorize the Federal Emergency Management Agency to continue selling and renewing policies through September of 2016 and make several reforms to keep the program solvent in the future. The legislation passed the House by a vote of 406-22.

"The beauty of the Delaware River and its tributaries is too often matched by the flooding and destruction it causes in our communities," said Fitzpatrick. "The National Flood Insurance Program is an important tool to make sure Bucks County residents are protected when disaster strikes. The necessity of this program has been demonstrated time and time again during flooding over the last several years. We need to make sure the program is put on firm financial footing to continue in the future."

In 1968, Congress created the National Flood Insurance Program to address the nation's flood exposure and the need to alleviate taxpayers' responsibility for flood losses paid out in the form of post-disaster relief following annual flooding and severe flooding following hurricanes. At the time, Congress recognized that the inherent challenges of managing flood risk were too great for the private sector and that no viable private sector insurance alternative existed. The Flood Disaster Protection Act of 1973 established a mandatory flood insurance purchase requirement for structures located in identified Special Flood Hazard Areas.

Bill Jones, a resident of Lower Makefield Township along the Delaware River, expressed his support of the renewal of the National Flood Insurance Program. "This is an important program," said Jones. "I'm glad Congressman Fitzpatrick and other members of Congress have voted to ensure it will continue to help protect our communities in the future."

As part of the five year reauthorization, H.R. 1309 would phase in risk-based premiums, and reduce subsidies for certain properties, including high-risk buildings subject to repeat claims. It also addresses risk mapping standards and mitigation assistance. Finally, the bill confirms FEMA's authority to utilize private reinsurance in lieu of taxpayer exposure to mitigate risk, and directs the agency to report on proposals from the private market for assuming risk within the program.

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