The United States House of Representatives has unanimously passed a bill reinstating and extending the National Flood Insurance Program until September 30, 2010, according to an article in the National Underwriter, New NFIP Extension Bill Passes House; Senate Action Uncertain. The bill (H.R. 5569) will be sent to the Senate for further action. My suggestion in Flood Insurance is Harder to Find and Politics is One Reason was to call all Congressmen. Now we are down to just the Senators that need to get their act together.
It is obvious that the insurance community understands the importance of flood insurance:
The National Association of Professional Insurance Agents (PIA) sent a letter to the Senate June 18 urging prompt action on the extension and noting that the NFIP “has slipped into a hiatus.”
PIA National President-elect Brian Marino, co-chair of PIA National’s working group on natural catastrophes, said, “This is a serious situation and the lack of action by Congress is irresponsible.”
He added, “Since the NFIP lapsed, 20 people lost their lives in flash floods in Arkansas, and in May, 29 people were killed in extreme flash flooding in Tennessee, Mississippi and Kentucky. Property damage was extensive everywhere. Allowing the flood insurance program to lapse is just not an acceptable option.”
Mr. Marino added that while no new policies can be issued during a lapse in NFIP authorization, consumers with current flood insurance policies remain covered. Claims payments are not affected.
We will keep up on this important topic.
