News

This week, the Big “I” led a group of 26 organizations in sending a letter to congressional leadership urging immediate action to reauthorize the NFIP before it expires on Nov. 30.

On Tuesday, the U.S. Senate voted to extend the NFIP through Nov. 30 by a vote of 86-12. President Trump signed the measure on July 31, meaning the NFIP did not have a lapse in authority during the height of the Atlantic hurricane season.

After the U.S. House of Representatives passed a bill that would extend the NFIP through Nov. 30, the timing for consideration of the measure in the U.S. Senate remains uncertain.

Unless Congress acts, the NFIP is scheduled to expire on July 31. Call the offices of your federal legislators to encourage them to reauthorize the program.

The Big “I” and other groups are currently advocating for Congress to extend the NFIP before the program expires on July 31.

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 version of the program.

Last week, the Federal Housing Administration proposed amending the agency’s rules to allow the use of private flood insurance on FHA-backed loans in Special Flood Hazard Areas.

Congress is expected to pass a bill to fund the government through the end of the fiscal year, which also includes authorization for continued operation of the NFIP through July 31.

The changes, which apply to the FY2019 WYO Arrangement effective Oct. 1, include, among other things, eliminating the WYO non-compete and revising the methodology for calculating WYO compensation, which is used to pay agent commissions.

On Monday, the Office of Management and Budget released a proposed budget for FY2019 that includes cuts to the Federal Crop Insurance Program, as well as changes to the NFIP.