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In 2012, Correll CEO Jon Jensen was asked to provide expert testimony to a Senate subcommittee examining the extension and reform of the National Flood Insurance Program (NFIP). Reform of the program has been debated for years, as it has rolled up billions of dollars in shortfalls. At the time of this testimony, Jensen served as chairman of the Government Affairs Committee for the Independent Insurance Agents & Brokers of America (Big "I"). In his testimony, Jensen shared support for reform of the program, including phasing out subsidies for certain properties and adding the ability to increase the amount premiums can be raised to improve the program's financial stability.
Watch Jensen's testimony, which starts at 8:15, and that of three other experts before the Senate Banking, Housing and Urban Affairs Subcommittee on Economic Policy:
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