While the power to issue regulations is not the power to change the law, there are those who do have the power – but none have a magic wand. Change is never easy. It takes commitment and hard work. In that regard, few have the depth of commitment of Mississippi’s Congressman Gene Taylor and even fewer are willing to work as long or as hard has he has worked to bring about needed change in the National Flood Insurance Program.
On his way out the door this morning, Sop posted Congressman Taylor’s testimony before the House Subcommittee on Housing and Community Opportunity on Scribd’ and you’ll find it at the end of this post. He also tossed me the links to two stories – making this a Sop and Nowdy tag-team post. First up, Flood insurance reform falls short, committee told, by Anita Lee for the Sun Herald:
A House bill to reauthorize the National Flood Insurance Program through September 2015 falls far short of reform the program needs for financial solvency, experts and politicians testified during a congressional subcommittee hearing Thursday.
NFIP’s instability was the main reason cited by those who oppose U.S. Rep. Gene Taylor’s proposal to offer optional wind coverage. Taylor, D-Miss, was joined by Rep. Steve Scalise, R-La., in advocating wind coverage through NFIP. Both talked about the inherent conflict in having private insurance companies adjust their own wind claims, along with NFIP claims, after hurricanes.
Taylor pointed out that insurance companies such as State Farm and Nationwide denied claims for wind damage to flooded properties, contributing to a $53 billion federal tab for Katrina recovery. Average homeowners, federal judges and even congressmen were unable to get their wind claims paid, he said…
