2 minute read
Government Affairs
By: Max Brandow, RASM Vice President of Advocacy and Member Programs
Elections are over, and now the rubber hits the road in terms of governing. As always, insurance, and specifically the NFIP, are being debated at all levels of government. Recently, NAR put out its principles for flood insurance reform at the federal level. This is an idea of what your lobbyists and FPCs will advocate for in Washington, D.C., in this upcoming session.
NAR’S POSITION
According to NAR research, the National Flood Insurance Program (NFIP) is essential to completing half-a-million property sales each year. However, the NFIP, as currently structured, is unsustainable for policyholders and taxpayers alike. For these reasons, NAR supports a strengthened NFIP coupled with a robust private market to offer consumers choices and maintain flood insurance access.
NAR BELIEVES:
BILL FURST RECOGNIZED BY NAR FOR TWO DECADES OF DISTINGUISHED SERVICE
For the first time in the 40+ year history of the FPC Program, during the FPC Roundtable in Orlando, FL, NAR recognized a distinguished group of FPCs who have served passionately and with excellence for over TWO DECADES as THE face and voice of real estate on Capitol Hill. This special award honors the individuals who have strengthened the role of the Federal Political Coordinator, the key contact and grassroots advocate role in the real estate industry and in society - through service, writing, networking, speaking, teaching, advocating, and fundraising. RASM’s very own Bill Furst was among those recently recognized with this special honor. He has served as an FPC for our membership, telling your story and connecting with legislators, building our gold star reputation on The Hill for over 20 years. If you see him or get a chance to congratulate and thank him, please do so. •
NFIP reauthorization should be long-term. To keep rates affordable, the federal government should offer pre-disaster risk mitigation options – including guaranteed loans, grants, and buyouts for property owners to build stronger or relocate to higher ground. Private flood insurance barriers should be removed so consumers can choose lower-cost options that meet federal coverage requirements. Premiums should continue to align with the specific flood risk of each building while gradually phasing in full-risk rates for older properties. Flood mapping should be modernized and completed throughout the nation. Real estate disclosures should be improved at the state level, but buyers and renters should have direct access to NFIP claims and disaster aid data. The Office of the Flood Insurance Advocate should be fully supported in order to directly assist policyholders with flood insurance-related disputes.
