House passes measure to extend National Flood Insurance Program
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WASHINGTON—The U.S. House of Representatives passed a measure Thursday that would extend the National Flood Insurance Program through June 30.
The NFIP is slated to expire on May 31. The Senate has yet to approve legislation that would extend the program beyond its current sunset.
Insurers, risk managers and others support a long-term extension and reform of the program.
“Avoiding yet another lapse of the NFIP is paramount to the continued protection of the program's 5.6 million policyholders in 21,000 communities across our nation,” said Tom Santos, vp-federal affairs at the Washington-based American Insurance Assn. in a statement issued shortly after Thursday's vote. “However, a long-term reauthorization that reforms the program is ultimately needed to ensure the NFIP's long-term viability.”
“Reforming and reauthorizing the NFIP enjoys broad bipartisan support among stakeholders and Congress,” said Mr. Santos. “The program and NFIP's policyholders deserve the stability that a long-term reauthorization will provide.
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