Big ‘I’ Urges Congress to Avoid NFIP Lapse

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 immediate action to reauthorize the program.

The Big “I” and others are currently advocating for Congress to extend the NFIP before the program expires, and to support a long-term reauthorization of a modernized program that would increase take-up rates for flood insurance in both the NFIP and the private market. A lapse could leave millions of Americans at risk, disrupt housing markets and slow recovery efforts of past flooding events.

The Big “I” is hopeful the NFIP will not lapse. While Congress is considering various legislative options to keep the NFIP operating, any substantial reforms to the program are almost certain to be pushed down the road. The Big “I” expects any reauthorization before the May 31 deadline will likely be a short-term reauthorization, potentially through the end of the fiscal year (end of September).

Wyatt Stewart is Big “I” senior director of federal government affairs.