S.2122 - National Flood Insurance Program Consultant Accountability Act of 2019116th Congress (2019-2020)
|Sponsor:||Sen. Kennedy, John [R-LA] (Introduced 07/16/2019)|
|Committees:||Senate - Banking, Housing, and Urban Affairs|
|Latest Action:||Senate - 07/16/2019 Read twice and referred to the Committee on Banking, Housing, and Urban Affairs. (All Actions)|
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Summary: S.2122 — 116th Congress (2019-2020)All Information (Except Text)
Introduced in Senate (07/16/2019)
National Flood Insurance Program Consultant Accountability Act of 2019
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.