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9/13/2011 - NAMIC urges Congress to pass NFIP reform


Insurance officials are looking for Congress to pass a bill to reform flood insurance.

After Hurricane Irene left heavy amounts of flooding in states that rarely receive such high water levels, the National Association of Mutual Insurance Companies is imploring Congressional leaders to extend the National Flood Insurance Program so residents can protect themselves while they still can.

Over the past few years, the program has dealt with financial issues and has lapsed and been extended several times. Some lawmakers are working to pass a comprehensive reform bill.

"While the NFIP is set expire on Sept. 30, the hurricane season isn't," said Jimi Grande, senior vice president of federal and political affairs for NAMIC. "Major storms could strike the U.S. well into November, and Congress must do its part to ensure that the NFIP will be there when the American people need it."

The House of Representatives has already voted to extend the NFIP, but the Senate must ratify the measure before it can be signed into law by President Barack Obama. Should the Senate approve the bill as presently constituted, the NFIP would not expire until September 2016.

Coordinated by the Federal Emergency Management Agency, the NFIP has helped thousands of people recover from damage losses. To learn more about the National Flood Insurance Program, visit www.fema.gov. For more information about flood insurance from Selective, click here or talk to a Selective agent today.

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