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Member, Beacon International Group, Ltd.
WASHINGTON—The U.S. Senate has extended the National Flood Insurance Program through the end of October.
The Senate approved the extension Wednesday as part of a larger resolution to keep the federal government operating for another month. The NFIP had been slated to expire Wednesday absent Senate action. The House already had approved a resolution continuing government operations.
Reacting to the extension, the president of the Des Plaines, Ill.-based Property Casualty Insurers Assn. of America hailed the Senate’s action.
“PCI applauds Congress for keeping the National Flood Insurance Program in place,” David A. Sampson said in a statement Wednesday. “Allowing it to expire would have very negative consequences for policyholders and also for the nation’s economy.”
He added that PCI “will work closely with the House and Senate to advocate a long-term extension that ensures the program’s fiscal soundness and does not needlessly expand its scope into other areas, such as windstorm insurance, where coverage is already available through private-industry or state programs.”