HR 5114 will reauthorize and improve the National Flood Insurance Program (NFIP), which is the primary source of reliable, affordable flood insurance coverage for millions of American homes and businesses. The bill includes an amendment by Congressman Scott to allow NFIP premiums to be paid in installments.
The Miller Amendment will require the Government Accountability Office to conduct a study on potential long-term reforms of the program, including: •Ways the private insurance market can contribute to insuring against flood damage. •The impact on the NFIP if communities were to opt out of the program •The feasibility of regionalizing the NFIP based on FEMA’s 10 geographic regions which should result in premiums more reflective of each region’s risk.
Congresswoman Waters delivers opening remarks in support of her bill, HR 5114, the Flood Insurance Reform Priorities Act of 2010. The Congresswoman’s bill reathorizes the National Flood Insurance Program for 5 years, making flood insurance affordable and accessible to millions of home and business owners. The bill passed the House today. July 15, 2010.
Alex talks with Robert G. Rash, a professional land surveyor and engineer. Mr. Rash contends that FEMA is now in the business of underwriting flood insurance policies in order to pay back its $19.2 billion debt incurred from Hurricane Katrina and Rita. www.infowars.com www.prisonplanet.com