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Flood Insurance

The National Flood Insurance Program (NFIP) is the primary underwriter of flood insurance. Hurricanes over the last decade have placed the program over $23 billion in debt. The program is currently funded but needs reauthorization.  Congressman Bilirakis is working in a bipartisan manner to ensure the program does not lapse, as it would be catastrophic for our state and regional housing market and economy.

The majority of constituents who participate in this program live in modest homes, many of which are not even on the water. While the program has received many short-term extensions and Congress provided emergency funding to keep it operational, it is imperative to ensure the long-term sustainability of this critical program.

In the 115th Congress, the House passed NFIP legislation which would have been beneficial to Florida policyholders. The Congressman was able to share the concerns outlined by Pasco and county with House leadership, and was able to secure many rewrites to the bill that would benefit Floridians. This bill would have ensured the continuation of the program for five years, with safeguards to ensure affordability, encourage private providers to enter the market, and give greater transparency to the program. Unfortunately, the Senate did not pass the bill. However, the Congressman remains committed to the long-term success of this vital program.

Some constituents find that they are paying premiums much higher than their risk of flooding dictates. Congressman Bilirakis has previously filed the Flood Insurance Integrity Act, legislation which would help fix this problem. The House is once again working on another NFIP bill, and Congressman Bilirakis is hopeful that a bipartisan compromise can be reached. He understands that we must continue to work towards long-term reauthorization of NFIP to ensure stability in the housing market in our area.  

Additionally, the Congressman is aware that many Floridians are suffering from the lack of affordable homeowner's insurance.  While homeowner's insurance is governed by the state legislature rather than the federal government, Congressman Bilirakis has been in touch with his colleagues at the state level to share this growing concern and advocate for much needed changes to provide relief.