U.S. Senate holds flood insurance hearing

On Wednesday, September 18, the Senate Committee on Banking, Housing and Urban Affairs Subcommittee on Economic Policy held a hearing regarding the implementation of the Biggert-Waters Flood Insurance Act of 2012. This issue has been extremely important to REALTORS around the country and the National Association of REALTORS (NAR) has been working with Congress to address the issues that have emerged as a result of the legislation. NAR submitted written testimony about the continued affordability of flood insurance when Biggert-Waters is fully implemented, and is urging Congress to delay the rest of the premium rate provisions until the Federal Emergency Management Agency can report on their impact on flood insurance affordability.

The written testimony can be found on REALTOR.org or by clicking here.