Low Insurance Quote

A GOP lawmaker plans to unveil draft legislation next week that could officially overhaul the National Flood Insurance Program (NFIP). The announcement, which came from the Republican chairman of a congressional insurance oversight panel on Thursday, said that March 11 will begin what could be a lengthy debate on the troubled government program.

Legislation to Address Coverages, Taxes and Debt

House Representative Judy Biggert (R-Ill.) told Reuters on Friday that she will present a draft next week at a hearing of the House insurance subcommittee she chairs that will address tax issues and wind damage coverage, an issue that has brought about much contention in previous meetings.

She says that while the deep debt of the NFIP is a huge issue, her draft does not yet have a firm strategy for addressing it and is leaving this and other issues up for discussion in the panel hearing.

At the time of the final extension of the NFIP last year, lawmakers were given until Sept.

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