The devastation caused by Hurricane Harvey and Hurricane Irmahas turned the nation's eyes and ears toward flood insurance.Though the catastrophic damage caused by the record flooding inHouston is tragic, the timing is ripe as Congress must addressreauthorization of the National Flood Insurance Program (NFIP) inone way or another by Sept. 30.

Unfortunately, before Harvey, the reauthorization had fallenvictim to political arm wrestling and permanently reauthorizing theprogram by the deadline seemed unlikely. A failure to reauthorizethe NFIP could create a lapse in the program. In that case,homeowners, home buyers, realtors, lenders andinsurance producers selling policies through the NFIP would have torely solely on a much-abused private market for primary floodinsurance coverage. Hopefully, Harvey's wrath, as well as Irma'sonly two weeks later, has left an indelible impression on lawmakers— leaving them poised to make meaningful reforms that willencourage private market competition for flood risk.

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