Last year, renewal discussions for the National Flood Insurance Program (NFIP) got off to an early and — by most accounts — very productive start.
Both Congress and the insurance industry sought to avoid the four years of program lapses and short-term extensions that preceded 2012′s reauthorization, and there was a clearer understanding among legislators and industry representatives about the flood program, its shortcomings, and what some realistic solutions might look like.
Now with the Sept. 30, 2017, deadline for renewal looming larger, P&C industry representatives say they are focused on turning 2016′s favorable discussions into substantive action — with the aim of securing both a timely NFIP extension and key reforms that would allow for a more robust private Flood-insurance marketplace.
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