Senate nixes amendment to defer certain NFIP rate increases

05/16/2013 | PropertyCasualty360

An amendment to a water-resources bill that would have deferred some rate increases under the National Flood Insurance Program was rejected in the Senate. Sen. Mary Landrieu, D-La., who filed the amendment, said the issue "isn't going to go away" and that she is "not giving up finding a solution to fix the flawed Biggert-Waters bill." The Senate's decision to reject the amendment drew praise from some observers. "We are pleased to see that a decade of hard work to achieve substantial reform of the NFIP won't be undone by a unanimous-consent amendment process to an unrelated bill," said Ray Lehmann of the R Street Institute.

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