Industry officials are starting to prepare for the prospect of another short-term extension to the National Flood Insurance Program (NFIP), as the deadline from the last extension is fast approaching.
Charles Symington, senior vice president of government affairs for the Independent Insurance Agents and Brokers of America (IIABA), says, "As time goes by, it is increasingly unlikely that the Flood Insurance Modernization bill will be able to pass the Senate and be reconciled with the House version before the scheduled expiration of the NFIP on Nov. 18."
The House in July passed H.R. 1309, "The Flood Insurance Reform Act of 2011," which would reform and modernize the program and extend it until Sept. 30, 2016.
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