Lobbying fight could hold up passage of flood insurance bill
A tough Washington lobbying fight among America’s insurance companies threatens to delay renewal of the National Flood Insurance Program this month.
The program was given a brief reprieve Friday when President Obama signed a four-day spending bill into law that extends the program, relied upon by some 5 million homeowners, until Oct. 4.
A six-week spending bill up for a House vote on Tuesday is expected to extend this program until Nov. 18, but passage of a five-year extension is proving elusive.
The biggest remaining hurdle appears to be a fight between Illinois-based State Farm insurance and the rest of the property insurance industry.
Sen. Mark Kirk (R-Ill.) is seen as State Farm’s biggest champion.
Sen. Sherrod Brown (R-Ohio) is on the other side, having prepared an amendment State Farm opposes.
In its corner, State Farm has Porterfield & Lowerthal’s Lendell Porterfield, a former adviser to Senate Banking Committee ranking member Sen. Richard Shelby (R-Ala.).
The Property Casualty Insurers Association of America has Browstein, Hyatt, Farber and Schreck and a lobbying team that includes Jacob Johnson former aide to Senate Finance Committee ranking member Orrin Hatch (R-Utah).
Prospects for an ugly amendment fight in the Senate could mean that Majority Leader Harry Reid (D-Nev.) keeps the bill off the floor this month for fear of it eating up too much precious floor time, sources said.
At issue is what to do with some 800,000 former State Farm insurance policies now being directly administered by the Federal Emergency Management Agency since State Farm left the flood insurance business last year.
The federal government provides flood insurance coverage but the policies are normally sold and administered by private insurance agents who thereby get the opportunity to sell their own products, such as homeowners or car insurance, to clients.
FEMA is now directly administering the former State Farm policies.
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Homeowners were the source of most complaints, but in some cases it was homeowner behavior that frustrated insurance companies, contractors and other local businesses. The Oct. 5 hailstones - some exceeding 2 inches in diameter - pounded cars,
The federal government provides flood insurance coverage but the policies are normally sold and administered by private insurance agents who thereby get the opportunity to sell their own products, such as homeowners or car insurance, to clients.
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James Frantz, an attorney whose firm represents plaintiffs in about 300 wildfire-related cases, said his firm's clients include businesses and renters who don't have homeowners insurance to cover their damages. People are suing for damage to homes,
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