On September 30, the National Flood Insurance Program (NFIP)’s authority to operate was extended until December 3, 2021. This is the 17th short term extension of the NFIP since its last five-year reauthorization expired in 2017. PIA supports a long-term reauthorization of the NFIP that recognizes the key role independent agents play in delivering the …
Continue reading PIA Supports Flood Bills Encouraging Development of Private Market
As agents, carriers, and policyholders around the country enter the new world of Risk Rating 2.0 (RR 2.0), we have created an ongoing series of Frequently Asked Questions and answers that we hope will help to inform and guide your decision making as you familiarize yourself with RR 2.0. Please note: The information contained herein …
Continue reading Risk Rating 2.0: Frequently Asked Questions
This afternoon, the House passed an amended version of H.R. 5305, the continuing resolution (CR) that will fund the federal government until December 3, 2021, by a vote of 254 to 175. Importantly for PIA members, this CR includes an extension of the National Flood Insurance Program (NFIP) until December 3. The Senate passed the …
Continue reading House Passes NFIP Extension and Funding Bill
Today the Senate passed an amended version of H.R. 5305, the continuing resolution (CR) that will fund the federal government until December 3, 2021, by a vote of 65 to 35. Importantly for PIA members, the CR includes an extension of the National Flood Insurance Program (NFIP) until December 3 as well. An earlier version …
Continue reading Senate Passes Amended Funding Bill with NFIP Extension
The U.S. Senate tonight failed to invoke cloture on the motion to proceed on H.R. 5305, the continuing resolution (CR) that would have funded the federal government until December 3, 2021. The bill passed the House last week by a vote of 220-211. In the Senate, however, a motion to invoke cloture, a procedure that …
Continue reading NFIP Extension and Federal Funding Fail to Pass Senate
On September 15, PIA became the first national insurance association to ask Federal Emergency Management Agency (FEMA) administrator Deanne Criswell to delay the scheduled Oct. 1 implementation of Risk Rating 2.0 (RR 2.0). While PIA supports RR 2.0, the more details FEMA released about its implementation, the more concerned we became about the planned rollout. We highlighted …
Continue reading Bipartisan Calls to Delay Risk Rating 2.0 Grows With Senate Letter to FEMA
Tonight, the U.S. House passed H.R. 5305, a continuing resolution (CR) to fund the federal government to December 3, 2021 by a vote of 220-211. As reported earlier this evening, the CR includes an extension of the National Flood Insurance Program (NFIP) to that same date. Both the funding for the federal government and the …
Continue reading House Passes Federal Funding Bill, NFIP Extension to December 3
The federal government is currently operating on a continuing resolution (CR) that expires at midnight on September 30. Unless Congress can pass another CR to fund the federal government beyond that date, the government will shut down. Notably for PIA members, the National Flood Insurance Program (NFIP) is also set to expire on September 30. …
Continue reading House Bill Would Extend NFIP and Fund Federal Government for 9 Weeks
Earlier today, PIA became the first national insurance association to ask Federal Emergency Management Agency (FEMA) administrator Deanne Criswell to delay the implementation of Risk Rating 2.0. In previous blog posts, we have discussed the value of the new Risk Rating 2.0 (RR 2.0) methodology, which is scheduled to go into effect on Oct. 1, …
Continue reading PIA Seeks Delay in Risk Rating 2.0 Implementation
As anticipated, the Risk Rating 2.0 Flood Insurance Manual (FIM) was released on Sept. 1. An update to the existing FIM was released at the same time, as was a final version of the Industry Transition Memo (ITM). Here is what you need to know about each. Industry Transition Memo The ITM, linked above, explains …
Continue reading The Risk Rating 2.0 Flood Insurance Manual Has Arrived
