NFIP Reauthorization Update: NFIP Extension set to Expire December 8, 2017
As Congress works toward NFIP reauthorization and reform, top priorities continue to be aligned with:
- Improved solvency of the NFIP, through long-term re-authorization and financial stability
- Private Flood Market development and participation
What does this mean for Insurers?
Assuming the NFIP gets another extension, and not a lapse, NFIP flood insurers can continue to issue new policies, renewal policies and coverage increases on in-force policies through the extended date. This extension would allow time for the House and Senate to finalize full reauthorization and reform legislation early next year.
Read more: Catch Up on NFIP Reauthorization and Reform
Op-ed written by Louis Hobson, Aon NFS CEO
Published in Insurance Journal, June 2017, “GETTING OUR HEADS AROUND FLOOD INSURANCE.”
Read Insurance Journal article
Check out the Aon NFS eBook "National Flood Insurance Program Reauthorization and Reforms prior to September 30, 2017" –created to help WYO carriers and insurance agents understand the NFIP reauthorization process and potential impact if the program is not reauthorized. View this eBook for greater detail related to reauthorization and reforms.