Insurance industry officials pressed Congress for longer-term action on reauthorization of the National Flood Insurance Program after a delay in the U.S. Senate allowed the plan to expire, creating the potential for chaos in the market.
An agreement by Sen. Jim Bunning R-Ky., to drop his objections allowed the Senate to move forward with H.R. 4691–a composite spending measure that in addition to reviving the NFIP until March 28, extended several other federal programs that had expired on Feb. 28.
Officials of the American Insurance Association said that in the wake of the temporary extension, the Senate has begun consideration of a broader package, which will extend the NFIP till Dec. 31, 2010.
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