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President Donald Trump has signed into law a measure that extends the National Flood Insurance Program for two weeks.
The extension was contained in a larger appropriations bill approved by the House of Representatives and Senate on Thursday. Lawmakers had approved a seven-day reauthorization of the NFIP last week, and the program would have expired today without the two-week extension.
The two-week extension is the latest in a series of short-term extensions of the debt-ridden program. Insurers and others have called for long-term reauthorization and reform of the NFIP to provide stability in the marketplace.
Divided government as a result of last week’s midterm elections will not necessarily be an obstacle to agreement on key issues on the property/casualty insurance industry’s legislative agenda.