110-H.AMDT.822 to 110-H.R.3121

Amendment prohibits a company that sells and services flood insurance policies from including language in its own windstorm policies that would exclude coverage of wind damage solely because flooding also contributed to the damage; and also requires the contract between an insurance company and NFIP to state that the company has a fiduciary responsibility to Federal taxpayers and will act in the best interests of NFIP.

H.AMDT.822(A009)
Amends: H.R.3121
Sponsor: Rep Taylor, Gene [MS-4](offered 9/27/2007)

AMENDMENT DESCRIPTION:
Amendment prohibits a company that sells and services flood insurance policies from including language in its own windstorm policies that would exclude coverage of wind damage solely because flooding also contributed to the damage; and also requires the contract between an insurance company and NFIP to state that the company has a fiduciary responsibility to Federal taxpayers and will act in the best interests of NFIP.

AMENDMENT PURPOSE:
An amendment numbered 8 printed in Part B of House Report 110-351 to prohibit a company that sells and services flood insurance policies from including language in its own windstorm policies that would exclude coverage of wind damage solely because flooding also contributed to the damage. The amendment also requires the contract between an insurance company and NFIP to state that the company has a fiduciary responsibility to federal taxpayers and will act in the best interests of NFIP.

STATUS:

    9/27/2007 3:15pm:
    Amendment (A009) offered by Mr. Taylor. (consideration: CR H10986; text: CR H10986)
    9/27/2007 3:21pm:
    On agreeing to the Taylor amendment (A009) Agreed to by voice vote.

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