Congress's failure to reauthorize the National Flood Insurance Program (NFIP) (as of March 2) has thrown the insurance market into disarray. According to Harriet Kinberg of FEMA, the NFIP provides more than 90 percent of U.S. flood insurance, with more than 5.6 million policyholders in over 20,500 communities nationwide.
With so much at stake, what can agents and brokers do to advise their customers? AA&B spoke with John Prible, assistant vice president of federal affairs for IIABA, Patricia A. Borowski, senior vice president of PIA National and Mike Becker, director of federal affairs for PIA National, and Kathy Mitchell, federal affairs director for NAMIC, on where the situation is headed.
AA&B: What are the implications for agents and brokers of the failure to reauthorize the National Flood Insurance Program?
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