Today, U.S. Representatives Ed Royce (R-Calif.) and Earl Blumenauer (D-Ore.) introduced H.R. 6196, the Repeatedly Flooded Communities Preparation Act. The bill aims to mitigate the financial resources expended by the National Flood Insurance Program (NFIP) and taxpayers on claims for properties flooded multiple times:
“It’s said that insanity is doing the same thing over and over again and expecting different results, yet when it comes to the NFIP and properties that flood repeatedly, that’s what we do. One NFIP-insured home valued at $69,000 flooded 34 times in 32 years and racked up $663,000 in claims; it’s time to stop the madness for policyholders and taxpayers who subsidize this cycle,” said Rep. Royce.
“Repetitive flood loss continues to place communities and families at risk, while shortchanging the federal taxpayer and all those who pay flood insurance premiums,” said Rep. Blumenauer. “The good news is that even as the challenges mount, we know what to do. This legislation focuses on engaging communities in simple, self-help solutions that will make them safer, save them money, and ultimately, lead to the stabilization of the National Flood Insurance Program.”
As of January 2016, there were more than 150,000 structures around the country classified as “Repetitive Loss …read more
Source:: U.S. Rep. Ed Royce
