H.R. 1422: Private Flood Insurance Market Development Act of 2017

Author's Summary:  To amend the Flood Disaster Protection Act of 1973 to require that certain buildings and personal property be covered by flood insurance, and for other purposes.

IB Summary:  From Business Insurance: This bill would "clarify that flood insurance policies written by private carriers satisfy the mandatory purchase requirement, meaning that people who buy private flood insurance would receive the same treatment as those who purchase it through the NFIP if they're trying to obtain federally backed mortgages that require flood insurance."

Status: Ordered Reported on 7/14/17.

Links: https://www.govtrack.us/congress/bills/115/hr1422; https://www.govtrack.us/congress/bills/115/s563

Other: Co-sponsored by Mike Coffman.