The National Flood Insurance Program’s authorization to issue new flood insurance contracts will expire on Sept. 30 unless Congress votes to extend it. Congress has been unable to enact a long-term extension of parts of the...more
The communities of Southwest Florida suffered a catastrophic blow in September of 2022 when Hurricane Ian decimated so much in its path. Now Hurricane Idalia brings yet another set of challenges to Southwest Floridians, who...more
The new year brought a series of ferocious storms that ravaged the California coast for weeks. By mid-January, this so-called “atmospheric river” caused at least eight million Californians to be under flood watch as wind and...more
In the face of winter—and all the wet weather that comes with it—FEMA’s National Flood Insurance Program would like everyone to understand the risks of flooding. Flooding has occurred across many parts of the country (yes,...more
Most of the Florida homes in the path of Hurricane Ian lack flood insurance, posing a major challenge to rebuilding efforts, new data show. In the counties whose residents were told to evacuate, just 18.5 percent of homes...more
After hitting the shores of Louisiana with winds of up to 172mph in late August, Hurricane Ida’s remnants barreled up to the northeastern United States, leaving waves of destruction in its wake. The deluge of rain—more than...more
For the first time in nearly a decade, the Office of the Comptroller of the Currency, Board of Governors of the Federal Reserve System, Federal Deposit Insurance Corporation, Farm Credit Administration, and the National...more
The Federal Emergency Management Agency (FEMA) administers the National Flood Insurance Program (NFIP). The NFIP offers insurance coverage for physical losses to buildings and/or contents caused by a flood. Over the years,...more
In the Continuing Appropriations Act, 2021 and Other Extensions Act, which was signed into law on October 1, 2020, the National Flood Insurance Program (NFIP) was extended until September 30, 2021...more
As previously reported, unable to agree on long-term reforms for the National Flood Insurance Program (NFIP), at the end of last year Congress extended the NFIP through September 30, 2020, which is the end of the current...more
Climate change is forcing the commercial real estate industry to re-think the effectiveness of flood insurance that developers, lenders and investors have relied on for decades. Rising sea levels and more extreme weather...more
As part of legislation to fund various federal government agencies after December 20, 2019, the House of Representatives and Senate agreed to extend the National Flood Insurance Program (NFIP) until September 30, 2020....more
As previously reported, the authorization for National Flood Insurance Program was scheduled to expire on November 21, 2019....more
The final rule promulgated by the Board of Governors of the Federal Reserve (Federal Reserve), the Farm Credit Administration, the Federal Deposit Insurance Corporation (FDIC), the National Credit Union Administration, and...more
President Trump recently declared the flooding throughout the Gulf Coast a National Emergency and pledged federal resources, including FEMA, to assist with the recovery efforts. All the while, one of the linchpins in...more
For the 11th time in the last two years, the House has passed yet another short-term extension of the National Flood Insurance Program (NFIP). The NFIP remains the largest source of flood coverage in the U.S.; this extension...more
On June 3, 2019 the United States House of Representatives approved H.R. 2157, which provides for aid to address the consequences of various natural disasters and also includes an extension of the National Flood Insurance...more
Congress has once again temporarily extended the National Flood Insurance Program. As previously reported, at the end of 2018 Congress temporarily extended the Program until May 31, 2019. The recent legislation (S.1693)...more
In February 2019, the Office of the Comptroller of the Currency, the board of Governors of the Federal Reserve System, the Federal Deposit Insurance Corporation, the Farm Credit Administration, and the National Credit Union...more
Federal financial institution regulators recently issued a joint final rule to implement provisions of the Biggert-Waters Flood Insurance Reform Act of 2012 (the “Act”) that require regulated financial institutions to accept...more
As previously reported, in early December 2018 Congress passed another short-term extension of the National Flood Insurance Program that was scheduled to expire on December 21, 2018. ...more
As previously reported, the National Flood Insurance Program was scheduled to expire on November 30, 2018 and Congress extended the Program to December 7, 2018. ...more
As previously reported, the National Flood Insurance Program was scheduled to expire on November 30, 2018. Once again, Congress has kicked the can down the road by authorizing a temporary extension of the Program, rather than...more
On July 31, 2018, President Trump signed the National Flood Insurance Program Extension Act of 2018. The act extends the duration of the National Flood Insurance Act to November 30, 2018, updating both the “Financing” (42...more
On July 31, 2018, the day that the National Flood Insurance Program was set to expire, the United States Senate voted 86 to 12 to reauthorize the program through November 30, 2018. ...more