Congress is facing a critical deadline to reauthorize the National Flood Insurance Program (NFIP) by September 30, a move that could have significant implications for the real estate and insurance industries if left unresolved.
Tag: NFIP
Southwest Florida May Keep Flood Insurance Discounts As FEMA Reevaluates
Southwest Florida residents may get to keep their discount flood insurance rates after all, as discussions between local governments and FEMA revealed a series of “miscommunications.”
NFIP Extended through Feb. 2 in Government Funding Bill
President Joe Biden signed a spending measure keeping the federal government open for business, including the National Flood Insurance Program.
Private Insurers Have an Increased Appetite for Flood Insurance
While FEMA and its NFIP continue to face obstacles with the rollout of the new rating system, private insurers have found an opening to expand their footprint in the flood insurance market.
Dramatic Plan to Expand Flood Areas Could Force Millions to Buy Insurance
Aproposal by a federal advisory panel urges the government to expand the areas considered by regulators to be at high risk of flooding, according to a report by the panel that was provided to E&E News.
Impact of U.S. Government Shutdown on Insurance Industry Will Depend on Duration
A U.S. government shutdown, which would have an immediate impact on the economy, also could directly affect insurers, though the severity would largely hinge on the length of time before Congress reaches a budget agreement, according to a new AM Best commentary.
Intense Storms, Insurance Crisis Force Residents of a Louisiana Community to Consider Leaving
The cost of living with intense storms is prompting some residents of St. John the Baptist Parish to consider leaving this already depopulating area west of New Orleans, which sits near sea level and has taken a pounding in recent years from a succession of floods and major storms.
Flood Insurance Program Faces a Backlash—and a Deadline
A federal program that provides critical flood insurance is set to lapse unless renewed by the end of the month, potentially stranding new home buyers in need of coverage.
Flood Insurance Swamps U.S. Government
The National Flood Insurance Program, which covers nearly 5 million properties, needs to be reauthorized by Congress by the end of the month to avoid a housing crunch.
Florida, Other States Continue Fight Over Higher Flood Insurance Rates
Florida and other states are trying to fend off an attempt by the Biden administration to end a lawsuit challenging changes to the National Flood Insurance Program that have led to higher premiums for many property owners.