Breaking: NFIP Legislative ActivityIn the past week, there has been a flurry of legislative activity related to the reform of the National Flood Insurance Program (NFIP). Four bills released: The House Financial Services Committee released four NFIP reform draft pieces of legislation. They focus around mapping, claims, affordability and mitigation. If you are a member, you […]
Before the start of 2018, many predicted political and economic uncertainty. This proved to be true of the National Flood Insurance Program and the flood insurance market. In total, 2018 brought three program lapses lasting over eight days with seven short term extensions and a series of Federal Emergency Management Agency leadership and administrative changes. […]
As we enter 2019, its time to review your annual flood insurance policy. Review the policy coverage with your current insurer and question the deductible amount. Then it’s time to get a second opinion! I recently listed a home in an AE flood zone. The homeowner was paying $3,600 for an annual policy with a $2,000 deductible. This premium was high compared to homes in the immediate area. The […]
Just-In-Time: House Votes 315-48 to Extend NFIP to May 31, 2019 After a challenging week in Congress, the House passed S.3628 that extends the NFIP’s authority until May 31, 2019. President Trump signed the bill into law Friday night. The NFIP did not expire. The goal of extending the NFIP for a six-month period is to provide time for […]
NFIP Now Headed 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 21st. The current political situation is complicated. Presently, the US Senate has proposed an extension to February 8th of Federal Government spending, which includes an extension of […]
MCC Introduces Suite of Flood Risk Services The Massachusetts Coastal Coalition’s Know Flood suite of services brings flood risk information to your fingertips. These services are designed to meet the needs of realtors, lenders, policy holders and residential and commercial applications where flood information can affect everyday life. “Know Flood Mapping” Service Knowing your flood […]
Yesterday, Congress passed a Continuing Resolution (H.J.Res.143) which extends funding for several federal agencies as well as the NFIP to December 21, 2018.
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 […]
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 […]