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House Committee Removes State Farm Amendment From NFIP Extension

The house of representatives is likely to take up legislation that would reauthorize the National Flood Insurance Program for five years before Memorial Day, hopefully providing certainty for a program that has lived on the edge since 2008.

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The house of representatives is likely to take up legislation that would reauthorize the National Flood Insurance Program for five years before Memorial Day, hopefully providing certainty for a program that has lived on the edge since 2008.

One hurdle was removed when the House Financial Services committee watered down to a “study” a proposed amendment mandating that NFIP customers serviced by State Farm agents be pushed back into the private sector within 27 months of enactment of the legislation.

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