U.S. Rep. Gene Taylor will make his case again for optional wind coverage through the National Flood Insurance Program.
His senior policy advisor, Brian Martin, has updated figures on how much the federal government shelled out after Hurricane Katrina, partly because some insurance companies refused to pay wind claims where tidal surge contributed to the loss. Martin says his latest figures show the federal government offered $34.5 billion in relief for temporary housing and repairs. That figure includes SBA loans for rebuilding, which are to be repaid.
Taylor is one of four congressional panelists testifying before a House Financial Services subcommittee. Chairwoman Maxine Waters will doubtless give him a friendly reception. She is a co-sponsor of Taylor's multi-perils bill, as she was in 2007, when it passed the House.
Strong opposition to the bill continues in the Senate, most notably from Alabama neighbor Sen. Richard Shelby.
Waters is expected to allow Taylor and the other congressmen/panelists to join subcommittee members in questioning the second panel: FEMA Administrator Craig Fugate and a member of the Government Accountability Office.
A third panel will feature a representative of private insurance companies who sell flood insurance. You can watch the hearing and get a complete list of panelists at this link.
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