National Flood Insurance Program Consultant Accountability Act of 2021
National Flood Insurance Program Consultant Accountability Act of 2021
This bill allows the Federal Emergency Management Agency (FEMA) to terminate certain contracts under the National Flood Insurance Program on the basis of detrimental conduct to the program by a covered entity (an attorney, law firm, consultant, or third-party company that provides certain services under the contract). Specifically, on such basis, FEMA may terminate a contract between a covered entity and a Write Your Own company (a property and casualty company that writes and services federal standard flood insurance policies in its own name).
FEMA shall establish a process for a covered entity to appeal such a termination.
Neither FEMA nor a Write Your Own company is required to make an early-termination payout to a covered entity with respect to a contract terminated under the bill.
Referred to the House Committee on Financial Services.