Insurance-industry officials say a two-year National FloodInsurance Program (NFIP) extension, as proposed recently by theFederal Emergency Management Agency (FEMA), is better than thecurrent pattern of short-term extensions—but some associations saythey would still rather see action on a five-year extension withprogram reforms.
In an April 24 comment in reaction to the FEMA letter toCongress calling for a two-year extension, the IndependentInsurance Agents and Brokers of America (IIABA) supported the FEMAproposal.
But officials of the National Association of ProfessionalInsurance Agents joined the American Insurance Association and theNational Association of Mutual Insurance Companies in voicingsupport for more certainty: a five-year extension.
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