Washington--Legislation allowing the National Flood InsuranceProgram to resume paying claims was passed by Congress late Fridayand is now headed to the White House for signature.
The House approved a measure that accedes to legislation passedby the Senate. It raises the NFIP's borrowing authority to $18.5billion--a $15 billion increase.
Congress is expected to work on legislation when it resumes workthe week of Dec. 5 that would increase the borrowing authority byan additional $4.5 billion and impose reforms demanded by Congressto make the program more accountable, according to the FinancialServices Roundtable.
Continue Reading for Free
Register and gain access to:
- Breaking insurance news and analysis, on-site and via our newsletters and custom alerts
- Weekly Insurance Speak podcast featuring exclusive interviews with industry leaders
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical converage of the employee benefits and financial advisory markets on our other ALM sites, BenefitsPRO and ThinkAdvisor
Already have an account? Sign In Now
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
