National Flood Insurance Program expired — again

The National Flood Insurance Program (NFIP) cannot issue new policies, increase coverage on existing policies or renew policies. The U.S. Congress failed to extend the program (as well as COBRA) by the March 28 deadline and adjourned for Easter recess until April 12.

We are  hopeful that the Senate will pass a House bill that would retroactively reauthorize the program during a tentatively scheduled April 12 evening vote.

Until that time, you are encouraged to follow FEMA's recommendations and guidance, available on FEMA's Web site. Companies have been directed to pay claims for policies in force.

Besides lasting considerably longer than the early March lapse, this lapse could wreak more havoc since it stretches over the end of the month, when many mortgage closings — which sometimes hinge on flood insurance — occur.

Posted 6:32 AM  View Comments

Share |


No Comments


Post a Comment
Name
Required
E-Mail
Required (Not Displayed)
Comment
Required


All comments are moderated and stripped of HTML.
Submission Validation
Required
CAPTCHA
Change the CAPTCHA codeSpeak the CAPTCHA code
 
Enter the Validation Code from above.
NOTICE: This blog and website are made available by the publisher for educational and informational purposes only. It is not be used as a substitute for competent insurance, legal, or tax advice from a licensed professional in your state. By using this blog site you understand that there is no broker client relationship between you and the blog and website publisher.
Blog Archive


View Mobile Version
Carrier
Carrier
Carrier
Carrier
Carrier
Carrier
Carrier
© Copyright. All rights reserved. Powered by Insurance Website Builder