House adds wind coverage to NFIP

09/28/2007 | PropertyCasualty360 · Tampa Tribune (Fla.), The

The House of Representatives has included a provision to cover wind damage in its National Flood Insurance Program legislation, defying threats of a presidential veto and likely opposition in the Senate. The Property Casualty Insurers Association of America came out against the provision: "Adding wind coverage will create artificial subsidies, which essentially means rate hikes for consumers in non-coastal parts of the country who do not face the same wind-damage risks as coastal policyholders," said Ben McKay, PCI's senior vice president of federal affairs.

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PropertyCasualty360 · Tampa Tribune (Fla.), The

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