Senate votes to extend NFIP for another four months

The federal flood insurance program was set to expire at 11:59 p.m., July 31, 2018.

The Atlantic is expected to produce five to nine hurricanes during the hurricane season, which began June 1. (NOAA via AP)

The U.S. Senate voted to extend the National Flood Insurance Program (NFIP) with less than 12 hours to spare.

The federal flood insurance program was set to expire at 11:59 p.m., July 31, 2018. The vote was 86-12, according to wafb.com. Congress must periodically reauthorize the NFIP which is now currently set to expire on Nov. 30, 2018. The four-month extension previously passed in the House of Representatives.

Related: Moody’s reveals forecast for this year’s hurricane season

NFIP (again) extended without reforms

The Independent Insurance Agents & Brokers of America (IIABA or the Big “I”) praised the U.S. Senate for passing a measure to extend the program.

“While Congress continues to debate reforms to the NFIP, it is important that the program remain in operation because more than five million property owners nationwide rely on it to protect their livelihoods,” Charles Symington, Big “I” senior vice president of external, industry and government affairs, said in a statement.

SmarterSafer, a national coalition of environmental groups, taxpayer advocates, insurance stakeholders, housing organizations and mitigation advocates, released a statement in response to the extension, welcoming the short-term extension but urged for a comprehensive reform.

“SmarterSafer welcomes Congressional action on a short-term extension of the NFIP before the July 31st deadline to ensure Americans are protected in the midst of hurricane season. However, Congress should use the next four months to finally reform the program that has cost taxpayers almost $40 billion dollars.  Leaders in Congress should not continue to allow short-term extensions that reinforce the status quo, but should pass a comprehensive legislative package that addresses the NFIP’s financial insolvency and better protects the environment and people in harm’s way.”

The Atlantic is expected to produce five to nine hurricanes during the hurricane season, which began June 1.

Related: 6 tips to protect your home and property for 2018′s hurricane season

Recommended Stories