Sen. Landrieu Restores Flood Insurance Funds, Defends Agent Commissions
As part of ongoing efforts to build a more affordable National Flood Insurance Program (NFIP), Sen. Mary Landrieu (D-Louisiana) announced that she added $100 million to a bill for the Federal Emergency Management Agency (FEMA) to update and correct flawed flood maps across the country. In doing so, Sen. Landrieu reversed President Obama's $11 million cut to the program after David Miller, the head of FEMA's NFIP, testified that most of the nation's flood maps are not accurate and reliable.
The money is part of a bill that funds the Department of Homeland Security for FY2015. When added to the $121 million in fees dedicated to mapping activities, the bill provides $221 million total for updating flood maps. In May, Sen. Landrieu announced that FEMA fully repealed provisions from Biggert-Waters (BW-12) that made it impossible for new buyers of homes or businesses to assume a property's existing flood insurance policy.
Sen. Landrieu has also been a leader in support of agent compensation under the Affordable Care Act (ACA). She introduced a bill, the Access to Independent Health Insurance Advisors Act (S.650), to exempt agent and broker commissions from the calculation of medical loss ratios (MLRs) in health insurance policies sold under the ACA, saying, "I firmly believe that agent compensation should not be included in the MLR calculation."
PIA members from Louisiana meet with Sen. Mary Landrieu (third from right)
during the PIA Federal Legislative Summit (FLS).