National Flood Insurance Program Competition and Extension Act of 2018

Floor Speech

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Ms. McCOLLUM. Mr. Speaker, I oppose this last-ditch effort to attach harmful policy riders to the National Flood Insurance Program (NFIP) reauthorization. While H.R. 7388 reauthorizes the NFIP through May 31, 2019, House Republicans have attached controversial policy reforms that have been rejected several times by the House and Senate to a bill that would keep the NFIP's doors open. This harmful policy change was recently implemented administratively by the Trump administration.

This policy reverses the Federal Emergency Management Agency's (FEMA) ``Write Your Own'' non-compete clause and would allow private insurance companies partnering with and servicing NFIP policies to sell their own competing private policies to unsuspecting consumers. We should not allow private insurers to cherry-pick the best risk policies for their own private businesses and force taxpayers to pick up the rest.

The Senate has already unanimously passed a clean extension that does not include this toxic rider. The House should ensure that flood insurance remains available to millions of homeowners, businesses, and renters across the country that rely on it and pass a clean extension.

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