II
110th CONGRESS
1st Session
S. 2047
IN THE SENATE OF THE UNITED STATES
September 12, 2007
Mr. Coleman (for himself and Ms. Klobuchar) introduced the following bill; which was read twice and referred to the Committee on Banking, Housing, and Urban Affairs
A BILL
To require enhanced disclosures to consumers purchasing flood insurance and for other purposes.
Short title
This Act may be cited as
the Flood Insurance Disclosure Act of
2007
.
Additional requirements of insurers
Part A of Chapter II of the National Flood Insurance Act of 1968 (42 U.S.C. 4051 et seq.) is amended by adding at the end the following:
Additional requirements of insurers
Disclosure of noncoverage
In general
Each insurance company or other insurer shall disclose, in writing, to any homeowner or renter who purchases a homeowner's or renter's insurance policy from such company or insurer that such policy does not include flood insurance coverage as described under chapter I.
Placement of disclosure
The disclosure required under paragraph (1) shall be—
in English;
composed in a clear and conspicuous manner; and
displayed on the insurance policy described under such paragraph.
Disclosure of eligibility
Each insurance company or other insurer shall disclose, in writing, at the time of sale of any homeowner's or renter's insurance policy to the purchaser of such policy—
that such person may be eligible to purchase flood insurance coverage as described under chapter I; and
the telephone number and Internet address by which the purchaser can contact the National Flood Insurance Program in order to obtain such flood insurance coverage.
Record keeping
Each insurance company or other insurer shall keep and maintain an accurate record of each disclosure provided under this section.
.