It may be necessary to raise the National Flood Insurance Program's borrowing authority to as high as $30 billion to cover claims resulting from Superstorm Sandy, state insurance regulators fear.

However, Don Griffin, vice president, personal lines, for the Property Casualty Insurers Association of America and head of an industry coalition on the Federal Emergency Management Agency, cautions that initial estimates are rarely accurate.

Currently, the Obama administration plans to ask Congress to raise the National Flood Insurance Program's borrowing authority to $25 billion, or $4.025 billion over its current borrowing authority. during the current lame-duck session, according to federal, state and industry officials.

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