House Financial Services Committee Hearing: Mitigation and Multiple Loss Properties: Factors Influencing the High Cost of Flooding

Mar 26

1 min read

The March 26, 2026 House Financial Services Subcommittee hearing addressed the high cost of flooding, focusing on the National Flood Insurance Program's (NFIP) $22.5 billion debt and the disproportionate impact of repetitive loss properties. Witnesses highlighted that 2.5% of policies cause 48% of claims, driving the need for better mitigation, updated mapping, and potential reforms for severe repetitive loss properties.

For an overview of the hearing proceedings, click here.

To view the video of the hearing, click here.

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