Flood Program Could Expire Dec. 16

Congress has approved yet another resolution to fund parts of the federal government including the nation’s flood insurance program on a short-term basis. This time the funding runs until Dec. 16.

Had Congress not acted, authorization for the National Flood Insurance Program would have expired on Nov. 18.

The insurance industry is pushing for both branches to pass a five-year extension of NFIP along with reforms. Legislation to do that has stalled. The House passed its version in July and the Senate Committee on Banking has passed a version. But the bill must still be considered by the full Senate.

In 2010, the NFIP lapsed four times and flood insurance coverage could not be purchased or renewed for a total of 53 days.