Filed Under:Agent Broker, Agency Management

NFIP Official: Program Likely to Need Congress to Authorize Loan for Sandy Claims

The National Flood Insurance Program is likely to run out of money to pay Superstorm Sandy claims, meaning it will probably need Congress to authorize a loan, a FEMA official says.

“The claims numbers [from Superstorm Sandy] are staggering,” says Edward L. Connor, deputy associate administrator of the Federal Insurance and Mitigation Administration, a unit of the Dept. of Homeland Security.

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