While most of the bill has language we can support, there are a couple of key provisions that would be detrimental to property owners in Louisiana, namely the loss of grandfathered or subsidized rates for any property with two or more flood claims of any dollar amount. Our Louisiana Congressional delegation, led by Congressmen Scalise and Richmond, have worked diligently to make sure NFIP is a sustainable program that is also affordable, and they are all united in opposition to this bill.
At NOMAR we understand the importance of having flood insurance reauthorized before the September 30th deadline. We want to see something done to ensure continued coverage for all policy holders, but HR 2874 in its current form is not a bill we can support.
When you receive the Call for Action on Tuesday, we are asking that you DO NOT click the link. Simply disregard or delete the email.
We will continue to work with our members of Congress to find a solution that would extend the program, while making it sustainable and affordable, in a bill that is good for property owners, our REALTOR® members, and your clients. Stand with NOMAR and your Congressional delegation and do not take the Call for Action.