Scalise to Testify on NFIP Reform Bill Wednesday

Washington, DC -- Congressman Steve Scalise will testify on H.R. 1264, the Multiple Peril Insurance Act, at a House Financial Services Committee hearing on Wednesday, April 21 at 2 p.m.

Scalise is the lead Republican cosponsor of H.R. 1264, which reforms the National Flood Insurance Program (NFIP) to create an optional program where property owners could purchase wind and hail coverage in addition to flood policies.

“This bill takes vital steps to ensure that the NFIP is expanded to protect Louisiana homeowners from wind and hail damage, and it protects people from having to go to court to prove if their damage was caused by wind versus flood,” Scalise said. "Six weeks from now the NFIP will expire again if Congress takes no action. It's time to stop stringing along homeowners with these short-term patches and finally pass much-needed reforms to the flood insurance program. I have been pushing to reform the NFIP since being elected, and this bipartisan bill does just that. By allowing the NFIP to cover wind and hail, Louisiana homeowners will have one less thing to worry about in the aftermath of a major storm.”

The Multiple Peril Insurance Act closes gaps in insurance coverage by creating a national insurance pool to spread risk and stop insurance companies from abandoning coastal areas immediately following severe hurricanes. According to the Congressional Budget Office, the Multiple Peril Insurance Act is actuarially sound and would pay for itself.

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Contact: Stephen Bell
202-226-9113