Byron Dorgan: “We don't have a problem with the merit and value of flood insurance. I think the program makes sense. We have an…”

“We don't have a problem with the merit and value of flood insurance. I think the program makes sense. We have an agreement, as it is currently written, and I hope we can perhaps modify it in a managers' amendment. On page 9, section 7, it appears to me FEMA would be required to come in and say: Ah ha, you are behind that levee; therefore, you must purchase this insurance. I hope what the Senator from Connecticut intends with this is that it be risk based because there will clearly be a different risk attached to someone who has a brand new levee system that they exhausted themselves paying for over the last 10 years. It is all done. They cut the ribbon, they celebrated, they had the town band out, in fact, but they are told by FEMA: That is not a factor.”