The U.S. Congress recently passed a 60-day extension of the National Flood Insurance Program (NFIP), earning praise from the Independent Insurance Agents and Brokers of America – also known as the "Big I."
"The Big I commends the House and Senate for passage of this 60-day extension in order to prevent an expiration of the NFIP," Charles E. Symington Jr., senior vice president for government affairs, said in a press statement.
Now, Symington's organization is urging Congress to pass legislation that would extend the NFIP further.
The Senate has agreed to consider the Flood Insurance Reform and Modernization Act, known as S. 1940. The legislation would extend the NFIP for five years and implement reforms. The House passed the legislation last summer.
"Congressional passage of a short-term extension was made possible by a deal reached in the Senate to finally consider S. 1940, legislation that provides a long-term extension and reform of the NFIP," says Symington. "We urge Senate leadership to follow through on this agreement and schedule time for consideration of this important legislation as soon as the Senate returns from its Memorial Day recess."