The National Flood Insurance Program (NFIP) will expire on May 31, 2019 unless Congress acts. The history of NFIP extensions has been messy. The program was extended 17 times between 2008 and 2012, when the previous five-year reauthorization was signed into law. Currently, the NFIP is on its 10th short-term extension since late 2017. The …
Tag: National Flood Insurance Program (NFIP)
PIA National Succeeds in Keeping Agent Commission Cut Out of Draft NFIP Legislation
The National Association of Professional Insurance Agents (PIA National) is optimistic about four draft bills that were recently released by House Financial Services Committee Chairwoman Maxine Waters (D-CA). Each of the released bills pertains to one of four categories: mitigation, mapping, administrative reform, and a foundational bill that reauthorizes the program for five years, forgives …
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Member Spotlight: Maxine Waters, Chairwoman of House Financial Services Committee
Maxine Waters (D) represents the 43rd district of California in the U.S. House of Representatives. Rep. Waters was first elected to the House in 1990. She is the chairwoman of the House Financial Services Committee, which has jurisdiction over most insurance issues. She is continuing as the leader of the Democrats on House Financial Services. …
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Seven Years in the Making, Final Rule on Lender-Approved Private Flood Insurance Almost Complete
The five federal agencies with oversight over mortgage lenders are in the process of jointly issuing a final rule on private flood insurance. Treasury and the FDIC have already indicated their approval of the rule. If it is approved by the Federal Reserve, the Farm Credit Administration, and the NCUA, the final rule will become …
Despite Christmastime Confusion, the NFIP is Up and Running
Here at PIA National, we work with Congress and the Federal Emergency Management Agency (FEMA) to help keep the National Flood Insurance Program (NFIP) up and running, particularly at times when the program undergoes its periodic reauthorizations by Congress. The last couple of weeks were particularly busy on that front, as the NFIP was scheduled …
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Member Spotlight: Senator John Kennedy of Louisiana
John Neely Kennedy (R) represents the state of Louisiana in the U.S. Senate and sits on the committee of jurisdiction over most insurance issues, which is the Senate Banking, Housing and Urban Affairs Committee. Senator Kennedy was elected to the Senate in 2016 and, given his short time there, has had a major impact on …
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Congress Extends Flood Program Until May 31, 2019
The National Flood Insurance Program (NFIP) was set to expire at midnight on December 21, 2018, unless Congress acted to extend it. The NFIP was originally supposed to be reauthorized in September 2017 and has since been operating on a series of short-term extensions. The program was in danger of lapsing for a long period …
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