U.S. National Flood Insurance Program Extended Through November 18, 2011
Published: October 10, 2011 | Country: United States
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Last week, the National Flood Insurance Program (NFIP) was extended until November 18, 2011, when Congress will once again vote on a reauthorization of the program.
The extension, part of a larger measure to keep the U.S. federal government running, prevents a lapse of the NFIP, which was set to expire September 30. The NFIP has been subject to numerous temporary extensions since September 30, 2008, and lapsed four times in 2010.
A five-year NFIP extension plan had been proposed, and has already been passed by the U.S. House of Representatives.
Without adequate flood coverage, flooding incidents can be financially devastating for both residential and commercial property owners.
Marsh’s Flood Service Center will keep clients updated with new developments.