NAMIC urges Senate to extend NFIP
With September being the most active month in the hurricane season, the National Association of Mutual Insurance Companies is calling on Congress to extend the National Flood Insurance Program.
"The damage from Hurricane Irene should bring a focus on flood issues, but the fact is Congress already had more than enough incentive to act given the National Flood Insurance Program expires on Sept. 30," said Jimi Grande, NAMIC's senior vice president of federal and political affairs. "Even before Irene flooded parts of the Northeast, historic levels of flooding this year have affected communities across the United States."
The House of Representatives voted earlier this year to extend the program, which is operated by the Federal Emergency Management Agency, but the Senate has yet to vote on the measure. In the past few years, the NFIP has been given a series of short-term extensions.
Vermont is the most recent state to receive heavy amounts of flooding. Vermont homeowners insurance policies don't include flood coverage, but residents of the Green Mountain State may buy the optional policy more consistently after experiencing some of the worst flooding in 100 years.
Related Home Insurance Articles:
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- Researchers hope to better understand tornado damage May 22, 2012
- Total costs from Minneapolis tornado reach $80 million May 21, 2012
- Analysis shows more than $2B of insurance claims from Joplin tornado May 18, 2012
- Recovery continues for Michigan tornado victims May 17, 2012
