Whether the insurance industry will have certainty about the National Flood Insurance Program (NFIP) is now in the hands of the U.S. Senate.
The House on July 12 passed legislation that would reauthorize the NFIP until Sept. 30, 2016. But whether Congress can act on a long-term reauthorization before the current program's extension expires Sept. 30 remains unclear.
The final House bill contains one potential historic shift in the program: some movement toward privatization, at least through reinsurance.
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