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CFO Jimmy Patronis: Flood Insurance Solution Must Include Mitigation

11/19/2018

For Immediate Release: Monday, November 19, 2018
Contact: Communications@myfloridacfo.com, 850.413.2842 
 
CFO Jimmy Patronis: Flood Insurance Solution Must Include Mitigation

TALLAHASSEE, Fla.—With only days left until the National Flood Insurance Program (NFIP) is set to expire, Florida Chief Financial Officer (CFO) Jimmy Patronis urges federal leaders to include a flood mitigation requirement as they seek long-term solutions for the Florida subsidized program. 
 
"Our state has been the leader when it comes to flood mitigation and fostering private market solutions. As the top donor state to the NFIP, Florida can't continue to subsidize a broken national system of building back time and time again in high-risk flood areas. Bad building practices of other states shouldn't be our problem.
 
"Adopting policies similar to Florida’s that pave the way for a healthy private flood insurance market is essential, but more needs be done. Congress must include a robust flood mitigation component to the NFIP and do so now. Delaying just to deal with the same problems later will be a disaster for Florida."
 
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About CFO Jimmy Patronis

Chief Financial Officer and State Fire Marshal Jimmy Patronis is a statewide elected official and a member of Florida’s Cabinet, who oversees the Department of Financial Services. CFO Patronis works each day to fight insurance fraud, support Florida’s firefighters, and ensure the state’s finances are stable to support economic growth in the state. Follow the activities of the Department on Facebook (FLDFS) and Twitter (@FLDFS).