NAIC Wants In On Risk Panel Proposed In Flood Insurance Bill

Law360, New York (June 19, 2012, 5:23 PM EDT) -- The National Association of Insurance Commissioners urged Senate leaders in a letter released Tuesday to pass reforms to the National Flood Insurance Program quickly, but criticized the Senate's NFIP bill for shutting out state officials from a proposed commission to examine natural disaster risks.

Jim Donelon, Louisiana's insurance commissioner and NAIC president-elect, said he was hopeful the Senate would take action this week on long-term reauthorization and reform of the government-backed flood insurance program, which has plunged into more than $17 billion of debt.

The Senate's...
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