NU Online News Service, Sept. 24, 2:55 p.m.EDT

A bill extending the National Flood Insurance Program foranother year passed the House of Representatives yesterday and wassent to the White House.

The bill, S-3814, will extend the program for another year.Without the extension, the NFIP would have expired next week onSept. 30. President Barack Obama is expected to sign the billbefore the expiration date.

The measure passed the House yesterday on a voice vote and waspassed in the Senate Tuesday also on a voice vote.

A number of insurance associations commended the House forpassing the legislation but acknowledged that work on the programneeded to be done.

"While we are pleased that Congress passed the one-yearextension, there is still work to be done in the 112^thCongress," said David Sampson, president and chief executiveofficer of the Property Casualty Insurers Association of America."With over $18 billion in debt, the NFIP is a program that needsmeaningful reform and a long-term reauthorization."

Passage of the bill, said Jimi Grande, senior vice president offederal and political affairs for the National Association ofMutual Insurance Companies, will not "fix the problems with theNFIP itself. The program is financially unsustainable and failingto address that only makes the problem worse for homeowners,insurers and the American taxpayers."

"A one-year extension gives Congress the time necessary todebate the more fundamental reforms the program needs," said BlainRethmeier, a spokesman for the American Insurance Association."But, between now and then, homeowners living in flood-prone areaswill have the stability, protection and peace of mind to go on withtheir lives."

Charles E. Symington Jr., Independent Insurance Agents andBrokers of America senior vice president for government affairs,said passage of the bill would bring "much needed stability andsecurity" to the program for some five-and-a-half millionpolicyholders.

John Prible, IIABA vice president for federal governmentaffairs, said recent natural disasters demonstrate the "urgency andimportance" of the program and that the association looks forwardto working with the Obama administration to add "businessinterruption insurance and additional living expenses coverage tothe program."

The National Association of Professional Insurance AgentsDirector of Federal Affairs Mike Becker while praising passagesaid, "Local communities, states and the federal government allhave a stake in making the flood insurance program work better forproperty owners and our nation's economy. PIA remains committed tocontinuing to work with the key members of Congress tasked withaddressing NFIP reforms."

The association noted that a bill, passed by the House,H.R.-5114, would extend the program for five years andmake additional reforms.

This story was updated with comments from PIA at 4:06p.m.