FSR Letter of Support for Flood Insurance Reform Legislative Package

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The Financial Services Roundtable (FSR) applauds the Committee on Financial Services’ work to reauthorize the National Flood Insurance Program (NFIP) prior to its September 30, 2017, expiration.

FSR Letter of Support for Flood Insurance Reform Legislative Package

FSR Letter of Support for Flood Insurance Reform Legislative Package

 

The Financial Services Roundtable (FSR) applauds the Committee on Financial Services’ work to reauthorize the National Flood Insurance Program (NFIP) prior to its September 30, 2017, expiration. The Committee has worked with interested parties to craft the legislation and continues to seek stakeholder input to improve policy. FSR appreciates the Committee’s leadership and supports the reauthorization and reform legislative package.

The legislative package proposes reforms to improve the consumer experience and increase private sector involvement. A key component of the flood insurance marketplace is the WriteYour-Own (WYO) insurance program. Many reforms in the legislative package will better enable WYOs to deliver insurance coverage to consumers. Importantly, we understand that the Committee will consider key changes to address certain concerns that impact how WYOs operate, process claims, and serve policyholders. We thank you for your work to address these concerns and appreciate your openness to work on additional refinements as necessary.

To read FSR’s full letter to the Financial Services Committee, click here.

 

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The Financial Services Roundtable represents the largest integrated financial services companies providing banking, insurance, payment and investment products and services to the American consumer. Member companies participate through the Chief Executive Officer and other senior executives nominated by the CEO. FSR member companies provide fuel for America’s economic engine, accounting for $92.7 trillion in managed assets, $1.2 trillion in revenue, and 2.3 million jobs.

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“This industry provides vitally important services to nearly every American – every day.  Affordable access to financial services is key to growing the American economy and fueling the American dream.”  -Tim Pawlenty, FSR CEO

 

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