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Member, Beacon International Group, Ltd.
WASHINGTON—The Senate voted Tuesday to extend the National Flood Insurance Program for one year.
The program is slated to expire on Sept. 30. It has temporarily lapsed several times in the past year because the House and Senate have not been able to agree whether a long-term extension of the program should include a provision that would require the NFIP to offer windstorm as well as flood coverage.
The Obama administration and the Senate, as well as much of the insurance industry, oppose such an expansion.
The Flood Insurance Extension Act of 2010 approved by the Senate has been sent to the House, which is expected to vote on it this week.