Local leaders recently met with Congressman Buddy Carter at the Chamber to dialog key issues surrounding the 2017 reauthorization of the National Flood Insurance Program. Items of discussion included:
HR 1422 "Flood Insurance Market Parity and Modernization Act," which clarifies that flood insurance policies written by private carriers satisfy the mandatory purchase requirement and allow continuous coverage rules to apply to private flood policies
- Support of grandfathering properties based on flood zones at original time of construction (past 4 years as stated in current bill)
- HR 2565, which requires the use of replacement cost value in determining premium rates for NFIP flood insurance
- Accurate property level mapping by FEMA, who currently is not required to produce such, based on the current bill.