Industry Trade Groups Urge Congress to Extend National Flood Insurance Program

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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 federal government fiscal year. With that date looming, in a letter to majority and minority leaders in the U.S. Senate and U.S. House of Representatives, industry trade groups urge that Congress further extend the NFIP. While the trade groups note that the NFIP “should undergo a number of significant reforms designed to create long-term stability for policyholders,” they also state that “allowing the program to lapse would be devastating to the policyholders across the nation who have already been impacted by COVID-19 and are facing an increasing number of severe flooding events.” The trade groups ask Congress to extend the NFIP before September 30 “to provide some continuity and certainty to the millions of policyholders who rely on a functioning NFIP.”

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