Big ‘I’ Statement on NFIP Reauthorization

Last week, The Independent Insurance Agents & Brokers of America (the Big “I”) released the following statement by Charles Symington, Big “I” senior vice president of external, industry & government affairs, on the Congressional reauthorization of the National Flood Insurance Program (NFIP) before the May 31 deadline:

“The Big ‘I’ is relieved that Congress was finally able to extend the NFIP before the program expires on May 31. However, we are disappointed that the extension is only for two weeks. Both chambers of Congress had previously passed legislation that would extend the NFIP through Sept. 30 in an overwhelmingly bipartisan fashion. Yet, brinksmanship from a few members of Congress brought us to the eve of an expiration and left more than five million policyholders and countless others who depend on the program with only a two-week extension of the NFIP. With historic flooding in the Midwest and hurricane season upon us, it is vital that Congress passes a longer-term extension of the program when it returns to session next week to provide more certainty for consumers.”

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