Loss determination clauses within business income insurance policies are meant to cover the normal revenue lost due to an insurable event like the recent flooding that drowned much of the Midwestern U.S. (Photo: Bloomberg)
The National Flood Insurance Program (NFIP) has been renewed again, this time until September 30, 2019.
The latest extension of this important program came after another round of brinksmanship on Capitol Hill, ending in a familiar way: with Congress waiting until the last minute before the NFIP was set to expire, before providing a late reprieve in the form of a short-term extension.
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