Sec. 407. Increasing statute of limitations for lawsuits
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Section 1341 of the National Flood Insurance Act of 1968 ( 42 U.S.C. 4072 ) is amended to read as follows: If the program is carried out as provided in section 1340, the Administrator may adjust and make payment of any claims for proved and approved losses covered by flood insurance made available under this title. Upon the denial or partial denial by the Administrator of a claim described in subsection (a), or upon the refusal of a policyholder to accept the amount allowed upon a claim described in that subsection, the policyholder may institute an action against the Administrator on the claim in the United States district court for the district in which the insured property or the major part thereof shall have been situated if filed not later than 2 years after the date on which the policyholder receives notice of denial or partial denial of the claim.
In the case of a denial or partial denial of a claim for losses that is appealed under section 205 of the Bunning-Bereuter-Blumenauer Flood Insurance Reform Act of 2004 ( 42 U.S.C. 4011 note), including through arbitration requested under subsection
(e)of that section, the limitation to institute an action under this subsection shall be tolled until the date on which the policyholder receives notice of a final determination of that appeal or arbitration denying the claim in whole or in part. A court described in paragraph
(1)shall have original exclusive jurisdiction to hear and determine an action under that paragraph without regard to the amount in controversy. . Section 1333 of the National Flood Insurance Act of 1968 ( 42 U.S.C. 4053 ) is amended to read as follows: The insurance companies and other insurers that form, associate, or otherwise join together in the pool under this part may adjust and pay all claims for proved and approved losses covered by flood insurance in accordance with the provisions of this title. Upon the denial or partial denial by any company or other insurer described in subsection
(a)of a claim described in that subsection, or upon the refusal of a policyholder to accept the amount allowed upon a claim described in that subsection, the policyholder may institute an action on the claim against the company or other insurer, as applicable, in the United States district court for the district in which the insured property or the major part thereof shall have been situated not later than 2 years after the date on which the policyholder receives notice of denial or partial denial of the claim. In the case of a denial or partial denial of a claim for losses that is appealed under section 205 of the Bunning-Bereuter-Blumenauer Flood Insurance Reform Act of 2004 ( 42 U.S.C. 4011 note), including through arbitration requested under subsection
(e)of that section, the limitation to institute an action under this subsection shall be tolled until the date on which the policyholder receives notice of a final determination of that appeal or arbitration denying the claim in whole or in part. A court described in paragraph
(1)shall have original exclusive jurisdiction to hear and determine an action under that paragraph without regard to the amount in controversy. .
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