WASHINGTON — Nat Wienecke, senior vice president, federal government relations at the Property Casualty Insurers Association of America (PCI) issued the following statement in response to House Financial Services Subcommittee Chairman Blaine Luetkemeyer’s draft “Principles for Flood Insurance Reauthorization and Reform.”
“PCI commends the leadership of House Financial Services Subcommittee Chairman Blaine Luetkemeyer and strongly supports his pro-consumer ‘Principles for Flood Insurance Reauthorization and Reform’ released today,” said Wienecke. “These thoughtful principles are an encouraging sign that Congress understands the importance of providing market stability through reauthorizing the NFIP well before the September 30, 2017 deadline for reauthorization.
“PCI strongly supports the committee’s commitment to consumer choice by facilitating more private sector participation in both the flood insurance marketplace and the NFIP. PCI appreciates and supports Subcommittee Chairman Luetkemeyer’s goal to increase transparency for consumers in the NFIP’s rate-setting process, as well as reforms to place the NFIP on more sound fiscal footing. PCI also thanks Chairman Hensarling and his long-standing support for increasing consumer choice and a more robust private sector flood insurance marketplace. PCI looks forward to working with the Chairman and members of the committee on developing the details of these principles,” concluded Wienecke.