Two-Year NFIP Extension Better Than Nothing, But Industry Still Wants Five

Insurance-industry officials say a two-year National Flood Insurance Program (NFIP) extension, as proposed recently by the Federal Emergency Management Agency (FEMA), is better than the current pattern of short-term extensions—but some associations say they would still rather see action on a five-year extension with program reforms.

In an April 24 comment in reaction to the FEMA letter to Congress calling for a two-year extension, the Independent Insurance Agents and Brokers of America (IIABA) supported the FEMA proposal.