Congress has officially agreed to preserve the current reimbursement rate and maintain the integrity of the National Flood Insurance Program. I am sincerely grateful for the resolve you demonstrated throughout this process. We will remain vigilant to ensure these protections remain stable in the future.
August 2, 2017
Final supporters
The National Flood Insurance Program (NFIP) was created more than 50 years ago to ensure that the nearly 5 million hard-working Americans insured today could protect their homes and businesses from rising water.
Congress is periodically required to reauthorize the program, which is currently in substantial debt, due primarily to Super Storm Sandy and Hurricane Katrina. However, in a misguided attempt to reduce that debt, Congress is currently moving language that, instead of saving this program, is designed to drive policyholders away.
This petition demands that rather than attacking agents, program administrators, and policyholders, Congress repair this essential program and preserve the current Write Your Own (WYO) reimbursement rate of 30.9 percent.
Updates
June 20, 2017
I have been reviewing the feedback regarding the proposed changes to the National Flood Insurance Program. The accounts shared by current policyholders reinforce the necessity of maintaining current reimbursement rates to ensure program stability. I am currently preparing a formal brief to present these concerns to the relevant legislative offices.
Reached 100 supporters
June 20, 2017
35 Comments
This is unacceptable. You can debate climate change all you want but there are the repercussions. We should not take it out on hard working Americans by having them pay for it. Whether its raising the homeowners premium or cutting the agents commission, it's wrong. Especially when preventative measures could have been enacted.
The amount of documentation required to place a flood insurance policy with the NFIP has steadily increased over the years. WYO carriers and agents are expected to provide photos, applications, forms, certificates, etc that certainly makes the cost of putting a policy on the books much higher. Targeting commissions paid to agent is just a distraction from the real issues that are keeping the program from being in the black. Repetitive loss areas and rates in SFHZ that are not actuarially sound need to be addressed.
WHY is it always the insurance agent that has to take the cut. we've had nothing but CUTS to our commission for the last 10 years. Our agency relies a lot on our flood commission to help pay our employees. Cutting our commissions could mean having to cut employees.
insurance agents should not be expected to work for nothing. experience, professionalism, time, overhead, all are real costs. please work to maintain a realistic compensation. at least for individual residences and condo units. perhaps larger buildings could have a maximum commission, but the little risks won't be written if there is no money to be made working them.
I'm a FL agent where 40% of the NFIP book of business is, and has run at a profit since 1975. If you reduce commissions agencies will no longer write flood insurance (lower commissions won't cover cost of servicing or the E & O exposure). That will result in less insured losses and more direct subsidies to victims by FEMA. You think you have money problems now, those problems would be much worse if you increase the number of uninsured losses.
SAVE OUR COMMISSIONS. AGENTS CAME FIRST THEN THE INTERNET FOR PROCESSING NEW BUSINESS. WE ARE TIRED OF WORKING OUT IN THE FIELD AND NOT GETTING PAID THE COMMISSION WE NEED TO SURVIVE AND KEEP OUR AGENCIES OPEN. STOP LOWERING AND CUTTING OUT THE AGENTS!!!!
Agent incur expenses writing flood insurance, don't cut their commissions
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Congress has officially agreed to preserve the current reimbursement rate and maintain the integrity of the National Flood Insurance Program. I am sincerely grateful for the resolve you demonstrated throughout this process. We will remain vigilant to ensure these protections remain stable in the future.
August 2, 2017
Final supporters
The National Flood Insurance Program (NFIP) was created more than 50 years ago to ensure that the nearly 5 million hard-working Americans insured today could protect their homes and businesses from rising water.
Congress is periodically required to reauthorize the program, which is currently in substantial debt, due primarily to Super Storm Sandy and Hurricane Katrina. However, in a misguided attempt to reduce that debt, Congress is currently moving language that, instead of saving this program, is designed to drive policyholders away.
This petition demands that rather than attacking agents, program administrators, and policyholders, Congress repair this essential program and preserve the current Write Your Own (WYO) reimbursement rate of 30.9 percent.
Updates
June 20, 2017
I have been reviewing the feedback regarding the proposed changes to the National Flood Insurance Program. The accounts shared by current policyholders reinforce the necessity of maintaining current reimbursement rates to ensure program stability. I am currently preparing a formal brief to present these concerns to the relevant legislative offices.
Reached 100 supporters
June 20, 2017
35 Comments
WE ASW AGENTS CANNOT AFFORD TO SERVICE POLICIES FOR THE COMMISIONS ALREADY BING PAID. LETS NOT PUNISH THE SMALL BUSINESS MAN WHO WILL HAVE TO FIRE PEOPLE JUST TO STAY IN BUSINESS. THIS WILL HURT THE OVERALL ECONOMY SINCE THERE WILL BE LESS PEOPLE WORKING AND PAYING INTO THE SYSTEM AND CREATE MORE DEPENDENTS ON THE GOVERMENT PROGRAMS. CHARLES PETERSEN, MIAMI, FL
This is unacceptable. You can debate climate change all you want but there are the repercussions. We should not take it out on hard working Americans by having them pay for it. Whether its raising the homeowners premium or cutting the agents commission, it's wrong. Especially when preventative measures could have been enacted.
The amount of documentation required to place a flood insurance policy with the NFIP has steadily increased over the years. WYO carriers and agents are expected to provide photos, applications, forms, certificates, etc that certainly makes the cost of putting a policy on the books much higher. Targeting commissions paid to agent is just a distraction from the real issues that are keeping the program from being in the black. Repetitive loss areas and rates in SFHZ that are not actuarially sound need to be addressed.
WHY is it always the insurance agent that has to take the cut. we've had nothing but CUTS to our commission for the last 10 years. Our agency relies a lot on our flood commission to help pay our employees. Cutting our commissions could mean having to cut employees.
insurance agents should not be expected to work for nothing. experience, professionalism, time, overhead, all are real costs. please work to maintain a realistic compensation. at least for individual residences and condo units. perhaps larger buildings could have a maximum commission, but the little risks won't be written if there is no money to be made working them.
I'm a FL agent where 40% of the NFIP book of business is, and has run at a profit since 1975. If you reduce commissions agencies will no longer write flood insurance (lower commissions won't cover cost of servicing or the E & O exposure). That will result in less insured losses and more direct subsidies to victims by FEMA. You think you have money problems now, those problems would be much worse if you increase the number of uninsured losses.
SAVE OUR COMMISSIONS. AGENTS CAME FIRST THEN THE INTERNET FOR PROCESSING NEW BUSINESS. WE ARE TIRED OF WORKING OUT IN THE FIELD AND NOT GETTING PAID THE COMMISSION WE NEED TO SURVIVE AND KEEP OUR AGENCIES OPEN. STOP LOWERING AND CUTTING OUT THE AGENTS!!!!
Agent incur expenses writing flood insurance, don't cut their commissions
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WE ASW AGENTS CANNOT AFFORD TO SERVICE POLICIES FOR THE COMMISIONS ALREADY BING PAID. LETS NOT PUNISH THE SMALL BUSINESS MAN WHO WILL HAVE TO FIRE PEOPLE JUST TO STAY IN BUSINESS. THIS WILL HURT THE OVERALL ECONOMY SINCE THERE WILL BE LESS PEOPLE WORKING AND PAYING INTO THE SYSTEM AND CREATE MORE DEPENDENTS ON THE GOVERMENT PROGRAMS. CHARLES PETERSEN, MIAMI, FL