American Property Casualty Insurance Association
  • Staff Contact: Eileen Gilligan     
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  • FOR RELEASE ON RECEIPT
  • March 13, 2019
  • APCIA Encourages Long-Term Reauthorization of NFIP
  • WASHINGTON, D.C. — The American Property Casualty Insurance Association (APCIA) issued the following statement ahead of today’s House Financial Services Committee hearing entitled, “Preparing for the Storm: Reauthorization of the National Flood Insurance Program.”

    “APCIA supports a long-term reauthorization and reform of the NFIP, and we are pleased that the Chairwoman’s draft legislation includes a five-year reauthorization of the program,” said Tom Santos, APCIA’s vice president of public policy advocacy.

    “While a stable NFIP is important, more needs to be done to address the nation’s needs with regards to flood insurance. Working together to make communities more resilient, expanding and enhancing flood insurance options, and improving the NFIP are critical to bridging the flood insurance gap, as evidenced time and time again after a major storm. Together, all of these elements will better protect homeowners, business owners, and communities and allow those impacted by flooding to recover more quickly.

    “APCIA looks forward to continuing this important discussion and working with all members of the committee to pass a bipartisan bill before the NFIP is set to expire on May 31.”

    A copy of APCIA’s testimony is attached.

     
  • APCIA promotes and protects the viability of a competitive private insurance market for the benefit of consumers and insurers. APCIA is composed of nearly 1,000 member companies, representing the broadest cross section of insurers of any national trade association. APCIA members write $220 billion in annual premium, 37 percent of the nation's property casualty insurance. Member companies write 44 percent of the U.S. automobile insurance market, 30 percent of the homeowners market, 35 percent of the commercial property and liability market and 37 percent of the private workers compensation market.
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