NFIP Reauthorization

Posted on Jan 13, 2018 in NFIP News, Uncategorized

Property owners who have a flood insurance policy that needs to be renewed in the coming weeks or prospective buyers who will need to obtain flood insurance as a condition of closing their loan, should keep a close watch on Congress and the National Flood Insurance Program (NFIP).  The NFIP must be reauthorized by next Friday (January 19, 2018) in order to avoid a lapse in the program.  January 19th, is the third short term extension of the program since its prior 5 year term expired on September 30, 2017.  The Federal Emergency Management Agency (FEMA) has prepared a “Frequently Asked Questions” handout that provides important information on the potential consequences of a lapse in the NFIP should Congress fail to reauthorize the program on January 19th.  Download FAQs, here