Claims News Service, Nov. 15, 2:45 p.m. EST — The Independent Insurance Agents & Brokers of America (the Big “I”) is asking Congress to extend the borrowing authority of the National Flood Insurance Program (NFIP) as quickly as possible.

The Federal Emergency Management Agency (FEMA) distributed a memo to Write-Your-Own companies recently informing them that lines of credit were suspended until further Congressional action regarding an extension of borrowing authority. With claims expected to exceed $23 billion, extended borrowing authority is necessary in order to meet consumer needs.

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