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With President Obama signing a 60-day National Flood Insurance Program (NFIP) extension bill on May 31, a lapse in the program has been avoided—but industry officials are wasting no time looking to the next phase and calling on the Senate to act on a five-year extension.

Ben McKay, senior vice president of federal government relations for the Property Casualty Insurers Association of America, says that although PCI is pleased that the 60-day extension avoided a lapse, “this only delays the fundamental debate over the future of the flood-insurance program. We remain hopeful that the Senate will schedule floor time for its long-term NFIP reauthorization and reform bill in June.”

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