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NAIC Urges Congressional Action on Long-Term NFIP Reauthorization
The nation's state insurance regulators sent a letter to Congressional leaders urging action on a long-term reauthorization of the National Flood Insurance Program (NFIP) before it expires on September 30, 2021. The hurricane season kicked off June 1, and a long-term extension will help provide certainty for policyholders in their efforts to prepare for flood disasters. The NAIC encourages Congress to work towards a reauthorization that supports private market development and resiliency planning. These measures will help provide consumers with additional choices and help minimize the impact of damage and economic loss.