Time is still ticking on the impending expiration of the National Flood Insurance Program (NFIP), but the first hurdle has now been cleared. The Senate yesterday passed S. 3814, the “Flood Insurance Extension Act of 2010,” which extends the program through Sept. 30, 2011.
“The recent series of expirations and temporary extensions are negatively impacting the market,” says Charles Symington Jr., The Independent Insurance Agents & Brokers of America (IIABA) SVP for government affairs. “The Big ‘I’ commends the Senate, and especially Sen. Vitter, for passing this bill which will provide much needed stability and security for the NFIP and its five and a half million policyholders.”
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