Flood Program Continues for Another Month After Vote
(Oct. 1, 2009) — The National Flood Insurance Program expired at midnight but was extended through the end of October after the U.S. Senate voted 62-38 today to keep the program up and running on an interim basis. The NFIP extension was passed as a Continuing Resolution by the Senate as part of the House-Senate Conference Report on H.R. 2918, the "Legislative Branch Appropriations Act 2010." Pres. Barack Obama quickly signed the bill into law.
"We strongly support an increase in maximum coverage limits and the addition of optional business interruption insurance," said Charles E. Symington Jr., IIABA senior vice president for government affairs. "Homeowners and businesses need both higher coverage limits and business interruption insurance in order to properly insure their homes and businesses. We hope that as Congress considers a long-term reauthorization soon, they will include these reforms."
Another short-term extension was signed by President Obama just hours before the program was set to expire earlier this year. In the 110th Congress, the Flood Insurance Reform and Modernization (FIRM) Act of 2007 made progress in the House and Senate. The legislation would have extended the program for five years and made significant and needed reforms to help put the program on sound financial footing. This summer, similar legislation was introduced in the House of Representatives.
The NFIP will operate at mostly current levels during the extension.
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Congress Gives the NFIP a Last-Minute Reprieve
(March 6, 2009) — Just hours before time was to run out on the National Flood Insurance Program, the U.S. Senate gave it a five-day extension by a voice vote this afternoon. Under existing law, the NFIP's authority to issue, renew and endorse policies was to expire at 11:59 PM on March 6.
The NFIP extension is part of an "omnibus" bill to provide funding for most operations of the federal government. Congress is working on a bill that would fund the government, including the NFIP, through Sept. 30.
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IIABNY Goes to Washington
(April 23, 2007) — More than 20 IIABNY member agents as well as members of the association's leadership team and staff will meet April 26 in Washington D.C. with members of the New York congressional delegation during IIABA's Legislative Conference & Convention.
They will join about 1,200 other independent agents and brokers from around the nation on Capitol Hill to explain their position to legislators and key members of their staffs. Some of the issues they are expected to address include agent opposition to establishing an optional federal charter, extension of the Terrorism Risk Insurance Act and support for tax code reforms that aid small businesses.
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