AGAIN: Flood Program Expires Friday

AGAIN: Flood Program Expires Friday


As of the writing of this message, Congress has not yet extended the National Flood Insurance Program, which expires at midnight on Friday, December 22nd.  This will continue to be an issue as Congress intends to only pass short term extensions for the foreseeable future.

Last week, FEMA issued guidance for insurance companies on how to handle writing new flood policies, policy renewals, and claims during a flood program expiration.  The MCCC 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 22nd, and within the next few weeks, PAY IT NOW
  •  If you are planning to close on a home after December 22nd, PAY FOR THE POLICY NOW.  If paid before the program expires, the policy will still go effective on the closing during a program expiration.
  • If your policy is in force before the program expires, and you experience a claim, your claim will be handled as usual.

You can download the full guidance HERE


In this months Coastal Connection, Chair Joe Rossi talks about the need for certainty in the NFIP:

“Our message to Congress is clear.  Give our communities flood insurance certainty.  If Congress cannot provide long term reauthorization prior to the December 22nd expiration, it should facilitate a short term, three-month extension that enables a comprehensive reauthorization to be done.  The goal should be a meaningful long term reauthorization in the first quarter of 2018.”

Read the whole column HERE