NFIP Looms Towards Lapse As of the writing of this message, Congress has not yet extended the National Flood Insurance Program, which expires at midnight on Friday, December 7th. Presently Congress has proposed a 2 Week extension of the Federal Government spending, which includes a two week extension of the NFIP. There is currently no timeline on a vote on this proposal; we are “cautiously optimistic” the bill will pass by Friday. Last week the NFIP was extended for 7 days, which now link it to the Federal Government’s continuing resolution to keep the government open. Other political issues now decide the fate of a NFIP lapse Friday. The MCC has created consumer guidance for you as an insured to know what to do before, during and after a flood program expiration. Overall, our guidance outlines that: -If you have a flood policy renewing after December 7th, and within the next few weeks, either pay it now or ask for the renewal statement (billed renewals can be paid during a NFIP lapse.) -If you are planning to close on a home after December 7th, PAY FOR THE POLICY NOW. If paid before the program expires, the policy will still becomes effective on […]

The House and Senate have passed a bill to extend the NFIP for one week in order to avert a lapse in the program. The 7 day extension will tie the NFIP to the broader federal spending bill (A continuing resolution) which is set to expire on December 7th. The one week extension bill has been passed to the President for signature. The Senate also passed S. 3628, a clean six-month extension for NFIP, that has now been referred to the House. We will be sending updates next week on the status of the NFIP.

Call For Opinion Columns The MCC will be issuing our first quarterly newsletter on October 15th! If you are getting this email, you will receive our newsletter. As we prepare for the release of our newsletter, we are asking for YOUR participation. Every newsletter will feature an opinion column written by one of our members (meaning you!). We have some guidelines for submissions: 400 to 500 words Opinions must NOT target an individual, agency, community or group Opinions must be written respectfully and have context to a coastal or flood related issue While we expect to have several opinion submissions, we will only be running one per newsletter. We look forward to your input! EMAIL YOUR OPINION SUBMISSION BY OCTOBER 12th TO INFO@KNOWFLOOD.ORG Why the Anti-Concurrent Causation Clause matters to you After Hurricane Florence, the Anti-Concurrent Causation Clause was discussed in depth as it was put to use by insurance companies. What is this clause? According to the clause, if two events — like wind and water damage — occur close together but only one of them is covered, the insurer doesn’t have to pay for either one. Many coastal insurance carriers have a requirement that if your home is in the Special […]