The U.S. Senate panel is calling for major changes in the National Flood Insurance Program (NFIP), which is set to expire in March. The proposed legislation aims to reform the program by limiting price increases, providing swift payments for homeowners, and increasing oversight for insurance vendors. The Senate Banking Committee is currently debating the proposed legislation.

If passed, the changes would provide much-needed relief for homeowners affected by flooding. However, some critics argue that the proposed reforms do not go far enough to address the program’s long-standing issues.