People walk on a flooded street at a trailer park following Hurricane Ian in Fort Myers, Florida, on Thursday, Sept. 29, 2022. (Credit: Eva Marie Uzcategui/Bloomberg)
On September 30, 2022, President Joe Biden signed legislation – passed by both the Senate and House – that extends the National Flood Insurance Program's (NFIP) authorization to December 16, 2022. The NFIP is managed by FEMA and is available to anyone living in one of the 23,000 NFIP participant communities. The program assists property owners, renters and businesses to obtain flood coverage through their network of over 50 insurers, since standard homeowners policies don't cover flood damage.
"Since 2018, every single U.S. State has experienced a flood emergency," RIMS President Patrick Sterling said in a press release celebrating the extension. "Risk professionals count on the National Flood Insurance Program to protect our organizations' assets and to remain in good standing with our commercial real estate contracts. RIMS is encouraged by this bi-partisan effort and will continue to work with our partners on Capitol Hill to support the development of a longer-term extension in December."
Want to continue reading?
Become a Free PropertyCasualty360 Digital Reader
Your access to unlimited PropertyCasualty360 content isn’t changing.
Once you are an ALM digital member, you’ll receive:
- Breaking insurance news and analysis, on-site and via our newsletters and custom alerts
- Weekly Insurance Speak podcast featuring exclusive interviews with industry leaders
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical converage of the employee benefits and financial advisory markets on our other ALM sites, BenefitsPRO and ThinkAdvisor
Already have an account? Sign In Now
© 2025 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
Brittney Meredith-Miller
Brittney Meredith-Miller is assistant editor of PropertyCasualty360.com. She can be reached at [email protected].
