WASHINGTON–The current impasse in Congress over the bill that authorizes most government spending for the current fiscal year is unlikely to jeopardize the National Flood Insurance Program, according to an insurance trade group.
Officials of the Property Casualty Insurers Association of America said today that Congress last week extended the current continuing resolution for the flood program until Wednesday while it completes work on the omnibus spending package.
The legislation contains a provision extending the current NFIP authorization until Sept. 30 while the House and Senate continue work on reconciling major differences on bills passed in Congress reauthorizing the program, according to Cliston Brown, a PCI spokesman.
“We anticipate that Congress will pass the omnibus and that the continuation of the flood program will not be jeopardized,” Mr. Brown added.
The program was extended but not reauthorized in the last Congress because of an impasse between the House and Senate over bills that would reform and extend the program. The primary problem is language in the House bill that would expand the program to cover wind as well as flood–something the insurance industry opposes.
Stand-alone legislation that would add wind to the program was introduced in the House last week by Rep. Gene Taylor, D-Miss.
© Arc, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to TMSalesOperations@arc-network.com. For more information visit Asset & Logo Licensing.