al.com – U.S. House committee passes wind coverage bill, but odds of final approval steep

WASHINGTON — Legislation to add optional windstorm coverage to the federal flood insurance program again passed a House committee Tuesday, but appears to face the same steep odds that doomed it two years ago.

Under the measure approved by the House Financial Services Committee, flood insurance policyholders could also get government-backed wind coverage. The committee approved the measure 40-25 on a mostly party-line vote. A committee spokeswoman did not know when the full House might take it up.

As private insurers continue to pull back from the Gulf Coast, the measure’s lead sponsor, Mississippi Rep. Gene Taylor, D-Bay St. Louis, has said that it would give property owners a better alternative to state wind pools.

April 28
al.com