Editor's note: Arthur D. Postal writes a weekly column for PC360 on insurance-related developments in Washington. Prevoiusly, he was National Underwriter's Washington Bureau chief. Opinions expressed are the author's own.
On Monday night, the Senate cleared for floor action legislation that could delay implementation of most flood insurance premium rate hikes for customers of the National Flood Insurance Program (NFIP) imposed by a 2012 bill for as many as four years.
The Senate brought the bill to the floor through rarely used emergency procedures by an overwhelming 86-13 vote. Floor action could begin as early as Wednesday, industry officials said.
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