Washington Report

Advocacy Updates from Washington D.C.

Flood Insurance PAG Holds First Meeting

Earlier this past summer, NAR President Gary Thomas appointed a Presidential Advisory Group (PAG) to investigate the impacts that federal legisation passed last year to reform the National Flood Insurance Program (NFIP) will have on the real estate industry and property owners.  The PAG held its first face-to-face meeting in Washington, DC on Oct. 1-3.  The focus of this meeting was to educate PAG members on how the NFIP operates, the current status of the program, how the changes brought by the new law will reform the program, and to what extent flood insurance premium rates will increase.  The PAG also made several recommendations on how the program can operate more effectively, so that it remains solvent and actuarially responsible without unduly burdening property owners.  The PAG will submit a report to President Thomas at the Annual Conference in San Francisco.

Notice: The information on this page may not be current. The archive is a collection of content previously published on one or more NAR web properties. Archive pages are not updated and may no longer be accurate. Users must independently verify the accuracy and currency of the information found here. The National Association of REALTORS® disclaims all liability for any loss or injury resulting from the use of the information or data found on this page.