This week, several members of Congress announced they were introducing legislation to reauthorize the NFIP for five years while also making a number of troubling changes to the program.
Earlier this week, FEMA published proposed rulemaking which follows the Biggert-Waters mandate to modify the way FEMA pays private insurance companies participating in the WYO program for the NFIP.
In a moment of bipartisanship, the U.S. House Financial Services Committee passed the legislation by a unanimous vote of 59-0.
Earlier this week, the U.S. House of Representatives passed a disaster aid package that included an extension of the NFIP through Sept. 30, the end of the fiscal year.
At press time, the U.S. House of Representatives is expected to try to pass a two-week extension of the NFIP, which is currently scheduled to expire at midnight tomorrow, May 31.
The U.S. Senate must act on H.R. 2578 to make sure the NFIP does not lapse at the end of the month.
The Big “I” presents the Legislator of the Year Award annually to a member of Congress who provides outstanding leadership on insurance issues.
The NFIP is set to expire on May 31, barring action by Congress. This week, the Big “I” joined a group of 18 organizations in sending a letter to congressional leadership urging them to reauthorize the program.
This week, the Big “I” joined a diverse range of partners and stakeholders in sending a letter urging Congress to maintain appropriated funding for FEMA’s Flood Hazard Mapping and Risk Analysis Program.
The evolution of the flood insurance marketplace has reached a point where every agent should revisit their traditional approaches to selling flood insurance.
