NEW ORLEANS – The Greater New Orleans, Inc. (GNO, Inc.) and the Coalition for Sustainable Flood Insurance (CSFI), which is led by GNO, Inc., endorsed the discussion draft on reauthorizing the National Flood Insurance Program (NFIP) released by Senator Bill Cassidy and Senator Kirsten Gillibrand.
The legislation reauthorizes the NFIP; ensures the NFIP remains affordable; puts the NFIP on more stable financial footing; modernizes the mapping process; enhances opportunities for mitigation; and, eases private market reentry in a responsible way, among other policy priorities, GNO, Inc. reps said. The legislation reauthorizes the NFIP for ten years.
“We commend Senators Cassidy and Gillibrand for their work to offer legislation that will ensure that the NFIP is easy to access, reliable, and affordable,” said Michael Hecht, president and CEO of GNO, Inc. “Further, this bill will improve the way we assess and communicate risk, and provide much needed options and funding sources for mitigation, which is fundamentally important as the frequency and severity of floods increase. We look forward to working with the Congress to pass this law.”
The draft legislation includes many policy recommendations put forth by CSFI in its white paper series, which can be found here
View a full summary of the bill here
Review the draft legislation here
