Sec. 14. GAO study of claims adjustment practices
177 words·~1 min read·
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The Comptroller General of the United States shall conduct a study of the policies and practices for adjustment of claims for losses under flood insurance coverage made available under the National Flood Insurance Act, which shall include— a comparison of such policies and practices with the policies and practices for adjustment of claims for losses under other insurance coverage; an assessment of the quality of the adjustments conducted and the effects of such policies and practices on such quality; identification of any incentives under such policies and practices that affect the speed with which such adjustments are conducted; and identification of the affects of such policies and practices on insureds submitting such claims for losses.
Not later than the expiration of the 18-month period beginning on the date of the enactment of this Act, the Comptroller General shall submit a report to the Committee on Financial Services of the House of Representatives and the Committee on Banking, Housing, and Urban Affairs of the Senate regarding the findings and conclusions of the study conducted pursuant to this section.