Filed Under:Agent Broker, Personal Lines Business

Flood Bill Signed Into Law

Years of Political Stalemate Ended

NU Online News Service, July 9, 11:33 a.m. EDT

WASHINGTON—President Obama late Friday signed legislation that reauthorizes the National Flood Insurance program until Sept. 30, 2017, ending years of political stalemate.

“At long last our government has signed into law meaningful NFIP reform,” said Jimi Grande, senior vice president of federal and political affairs for the National Association of Mutual Insurance Companies.

He noted that the core legislation passed the Insurance Subcommittee of the House Financial Services Committee more than a year ago, and “ensures that Americans have access to flood insurance and just as important, that the NFIP will begin to charge adequate rates.”

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