Senator Durbin reply's about the NFIP

Thank you for contacting me about the National Flood Insurance Program (NFIP).  I appreciate hearing from you.

For the past five years, the NFIP has been challenged by higher numbers of flood claims. These claims have exceeded what the NFIP collects in annual premiums and its borrowing authority from the U.S. Treasury. To help meet these increased claims, Congress increased the NFIP's borrowing authority in 2005 and again in 2006.

With my support, Congress passed and the President signed into law the National Flood Insurance Program Extension Act on July 2, 2010.  This law ensures that basic NFIP authorities remain in force by retroactively reauthorizing the program from June 1, 2010, through September 30, 2010.

Congress is working to reform the entire program. On July 15, 2010, the House of Representatives passed the Flood Insurance Reform Priorities Act (H.R. 5114). This measure would reauthorize the NFIP through Fiscal Year 2015 and make major reforms to the program. This bill has been referred to the Senate Banking, Housing, and Urban Affairs Committee. While I am not a member of this Committee, I am committed to ensuring the Flood Insurance program remains strong and viable for years to come.

Again,thank you for contacting me. Please feel free to keep in touch.

Sincerely,
RichardJ. Durbin
UnitedStates Senator