Capito Introduces National Flood Insurance Program Reauthorization Bill

Press Release

U.S. Senators Shelley Moore Capito (R-W.Va.), Bill Cassidy, MD (R-La.) and Kristen Gillibrand (D-N.Y.) introduced legislation to reauthorize the National Flood Insurance Program (NFIP) for 10 years. The NFIP is currently set to expire on September 30, 2017.

"Almost one year later, West Virginia continues to pick up the pieces from the devastating flood that ripped through our state," Senator Capito said. "The National Flood Insurance Program is important for communities that have experienced severe flood damage like those in West Virginia. This legislation will eliminate uncertainty for residents by reauthorizing the program for another decade, and I am proud to support a bipartisan bill that will help provide West Virginians with affordable protection needed in case of a natural disaster."

Last June's flooding in West Virginia damaged thousands of homes and businesses, and nearly 90 percent were not covered by flood insurance. Currently, flood insurance is too expensive for many West Virginians to afford. Additionally, many of the impacted communities were already facing economic challenges making the cost of rebuilding structures difficult for many business owners and families. This legislation will help reduce the individual insurance costs of the NFIP and provides funding for mapping flood zones, and affordable protection for West Virginia homes and businesses vulnerable to future natural disasters.

"This is a product of listening to those affected, finding from stakeholders those policies that would address affordability and sustainability within the NFIP," said Dr. Cassidy. "The goal of this bipartisan bill is to bring peace of mind for Louisiana families, and for all American families, seeking to buy flood insurance."

"Millions of New Yorkers rely on the National Flood Insurance Program to protect their property when a flood occurs," said Senator Gillibrand. "After Superstorm Sandy hit New York, this program failed too many families who had paid their premiums and were relying on their insurance to rebuild. We cannot turn our backs and let this happen again. This bipartisan bill would help ensure that flood insurance is more affordable and not riddled with the loopholes that left homeowners on their own fighting with insurance companies while trying to recover from the devastation. I am proud to lead this fight with Senator Cassidy, and I will continue to do everything I can to stand with New York homeowners."

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