Federal Flood Insurance Program Extended Until Nov. 18

The U.S. House of Representatives in early October passed legislation that keeps the federal flood insurance program running until Nov. 18, 2011.

The House voted 352-66 to extend the National Flood Insurance Program (NFIP); the Senate previously passed the funding legislation.

The Independent Insurance Agents and Brokers of America praised the vote.

“It is vital to our economy that there not be any interruption in the NFIP,” said Charles Symington, IIABA senior vice president of government affairs.

The House and Senate are currently working on legislation that would extend the program for five years and make needed reforms to the program. The House passed its version of the legislation in July and the Senate Committee on Banking has passed a version.

Congress now has “more time for work on the long-term reform and extension effort,” said John Prible, IIABA vice president of federal government affairs. “We now urge Senate leadership to quickly bring the reform bill to the full Senate floor for consideration to allow the House and Senate enough time to reconcile their two bills. We are now closer to achieving a long-term reform and extension bill than at any point in recent memory and we urge Congressional leadership to finally push this over the finish line.”

Insurers are also pushing for both branches to pass long-term legislation. “This series of short-term patches underscores the need for a long-term reauthorization for the flood program,” said Ben McKay, senior vice president of federal government relations for the Property Casualty Insurers Association of America.

“Our priority is a long-term NFIP extension,” McKay said.

Topics Legislation Flood