Congress has reauthorized the NFIP a number of times with the last long-term reauthorization taking place in 2012. That five-year reauthorization ended in 2017 and since then there have been more than 25 short-term reauthorizations, according to the National Association of County Officials. Credit: Alejandro Granadillo/AP
Editor's note: This column is part of PropertyCasualty360's Foundations of P&C Insurance series, which aims to bring new insurance professionals up to speed, while keeping industry veterans sharp. On Fridays, PC360 will offer up fresh content covering the nitty-gritty details of P&C insurance, tips for professional development, articles looking at the industry's more niche concepts, and the history of certain lines and programs.
In 1968, Congress enacted legislation that led to the establishment of the National Flood Insurance Program, which was designed to address the absence of private insurance and the growing reliance on federal disaster aid resulting from floods, according to the National Association of Insurance Commissioners.
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Steve Hallo
Steve Hallo is managing editor of PropertyCasualty360.com. He can be reached at [email protected]
