Senator Dodd to Push Flood Insurance Reform Legislation
In a press conference on Wednesday, U.S. Sen. Christopher Dodd stated that je is determined to move federal flood insurance legislation through the Senate promptly, despite resistance from Louisiana lawmakers.
"I intend to do all I can to move this legislation to the president's desk as soon as possible," said former US Presidential Democratic contender Dodd.
Dodd chairs the Senate Banking Committee, which in October voted unanimously to reform federal flood insurance while refusing to follow the lead of a House of Representatives bill that would expand the program to cover wind damage.
Louisiana's senators Mary Landrieu, a Democrat, and David Vitter, a Republican, have placed holds on the Senate bill, blocking it from reaching the Senate floor for final action.
The House voted in September to overhaul the almost 40-year-old National Flood Insurance Program, which was badly crippled by heavy hurricane damage claims in 2005.
The House bill would expand the program to cover wind damage, a response by lawmakers to coverage disputes among some Gulf Coast homeowners and insurers over whether water or wind caused severe damages to many homes in Hurricane Katrina.
Insurers have lobbied hard to block a wind expansion. The Bush administration has pledged to veto the House bill.
Published on January 24, 2008
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