Industry News
Congress Votes Short Term Extension of NFIP; PIA Statement
On Friday Sept. 8, the U.S. House followed action the previous day by the Senate, approving a short-term extension of the National Flood Insurance Program (NFIP). The temporary extension of the NFIP—which was to expire on Sept. 30—was part of a deal brokered by President Trump that included a three-month agreement to fund the federal government and lift the debt ceiling until Dec. 8, along with a $15.3 billion hurricane aid package.
After the House vote, PIA issued a statement praising the NFIP extension.
“We view this short-term extension as a chance for Congress to provide taxpayers with the financial stability such a program requires by passing an essential long-term reauthorization of the NFIP. It has become apparent during this historic hurricane season that far too few homeowners have flood insurance, a situation that must be changed,” said PIA National Vice President of Government Relations Jon Gentile.
Our statement also noted PIA remains opposed to a flood legislative package that passed out of the House Financial Services Committee earlier this year, because it would lower the reimbursement rate paid to NFIP carriers, who reimburse independent agents who sell the policies from that rate.
On Friday Sept. 8, the U.S. House followed action the previous day by the Senate, approving a short-term extension of the National Flood Insurance Program (NFIP). The temporary extension of the NFIP—which was to expire on Sept. 30—was part of a deal brokered by President Trump that included a three-month agreement to fund the federal government and lift the debt ceiling until Dec. 8, along with a $15.3 billion hurricane aid package.
After the House vote, PIA issued a statement praising the NFIP extension.
“We view this short-term extension as a chance for Congress to provide taxpayers with the financial stability such a program requires by passing an essential long-term reauthorization of the NFIP. It has become apparent during this historic hurricane season that far too few homeowners have flood insurance, a situation that must be changed,” said PIA National Vice President of Government Relations Jon Gentile.
Our statement also noted PIA remains opposed to a flood legislative package that passed out of the House Financial Services Committee earlier this year, because it would lower the reimbursement rate paid to NFIP carriers, who reimburse independent agents who sell the policies from that rate.
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