The proposed rule would allow consumers to purchase a private flood insurance option instead of insurance through the National Flood Insurance Program when flood insurance is required by the Federal Housing Administration.
The flood industry, industry stakeholders and policyholders are unified in the fact that Congress needs to act on long-term reauthorization to end the cycle of short-term extensions to the NFIP.
In a win for the Big “I,” the Federal Housing Administration proposed a new rule that would allow consumers to purchase private flood insurance.
President Trump signed into law government funding legislation that would reauthorize the National Flood Insurance Program through Sept. 30, 2021.
Earlier this week, the House passed bipartisan legislation that includes an extension of the National Flood Insurance Program through September 2021.
The Big “I” sent two letters to Congress this week advocating to extend the National Flood Insurance Program, set to expire on Sept. 30, and urging support for The Paycheck Protection Program Small Business Forgiveness Act.
Instead of an in-person event, the 2020 National Flood Conference will take place virtually via webinar June 1-3. Attendance is free of charge.
In response to the coronavirus crisis, FEMA will extend the grace period to renew flood insurance policies from 30 to 120 days, and the USDA has announced flexibilities to help with policies, claims, reporting and payments.
Key victories include a huge win giving independent agencies tax relief and a trifecta of Big “I” priorities made into law.
Today, the U.S. Senate passed a legislative package that includes three key priorities for independent agents: Reauthorizing the Terrorism Risk Insurance Act, extending the National Flood Insurance Program and repealing the “Cadillac tax.”
