FOR IMMEDIATE RELEASE: May 15, 1997
CONTACT: Dana Hagerty 202/225-2165
WASHINGTON, DC -- Congressman Collin C. Peterson (DFL-7th District) today announced that changes have been made to the National Flood Insurance Program (NFIP) which allow greater coverage to flood victims.
"Before these changes, NFIP didn't come close to covering the damage that folks in Minnesota experienced from this flood," Peterson said.
Additional losses covered now include: sewer back-up, seepage, or hydrostatic pressure, when these conditions are caused by surface flooding which at the same time damaged the property; freezing of flood waters which directly damages the insured property; and land subsidence (sinking), sewer backup, or seepage of water provided that:
there is a general and temporary condition of flooding in the area (immediate vicinity)
the flooding is the proximate cause of the land subsidence, sewer backup, or seepage of water
the land subsidence, sewer backup, or seepage of water damage occurs no later than 72 hours after the flood has receded
the insured building must be insured, at the time of loss, for at least 80 percent of its replacement cost of the maximum amount of insurance available under the program
"I have been working closely with the Federal Emergency Management Agency (FEMA) and those administering the NFIP," Peterson said. "I am pleased they have granted this additional coverage."
For specific details concerning any changes to the NFIP, policy holders should contact their local insurance agents.