WASHINGTON — Nat Wienecke, senior vice president, federal government relations at the Property Casualty Insurers Association of America (PCI) issued the following statement supporting the “Disaster Tax Relief and Airport and Airway Extension Act of 2017.” This package includes bipartisan, clarifying language, introduced by Representatives Dennis Ross (R-FL) and Kathy Castor (D-FL), to increase acceptance of private flood insurance products.
“PCI strongly supports inclusion of the bipartisan Ross-Castor language in the “Disaster Tax Relief and Airport and Airway Extension Act of 2017” that allows consumers the choice of government or private flood insurance coverage. This bipartisan fix clarifies what is already in federal law and increases flood insurance options so that consumers could have the necessary flood coverage to protect their homes, communities, and businesses. PCI calls on the House to pass this important legislation.”
The Ross-Castor language passed the House last year by a vote of 419-0, and it was ordered reported out of the House Financial House Services Committee in June by a vote of 58-0.
PCI’s letter of support is attached.