On the Hill

The legislation to extend the National Flood Insurance Program (NFIP) includes several controversial items, such as capping Write-Your-Own (WYO) compensation at 22.46% of written premiums.

While the framework is light on specifics, it does highlight how Democrats plan to raise revenue to pay for the party’s proposed $1.75 trillion social spending package.

The proposal would require financial institutions and other financial services providers to track and submit information on the inflows and outflows of every account above a de minimis threshold of $10,000 during the year.

The three bills introduced today aim at reforming the National Flood Insurance Program (NFIP) with the intention of growing the private market.

Training webinars for ​Risk Rating 2.0, FEMA’s new pricing methodology for the National Flood Insurance Program (NFIP), are free for agents.

If passed, the legislation would reauthorize the National Flood Insurance Program (NFIP) through Dec. 3.

All new policies effective on or after Oct. 1 must be issued under Risk Rating 2.0, FEMA’s new pricing methodology for the National Flood Insurance Program (NFIP).

With Risk Rating 2.0 currently scheduled to be implemented Oct. 1, disagreements in Congress could lead to a government shutdown and a lapse in the National Flood Insurance Program (NFIP).

The National Flood Insurance Program (NFIP) is currently scheduled to expire on Sept. 30.

House Democrats continue negotiations on the proposed plan intended to pay for the Democratic party’s $3.5 trillion spending package.