Federal Flood Insurance Program Granted Temporary Extension
Posted by Jennifer Nausin on Wed, Oct 07, 2009 @ 06:11 PM
Thursday, October 1st - Just hours before the program was set to expire, the U.S. Senate passed a temporary extension of the National Flood Insurance Program (NFIP) extending the program through Oct. 31, 2009.
In a recent Insurance Journal article Robert Rusbuldt, Big "I" president and CEO states, "It is alarming that the NFIP, which was set to expire..., came within a few hours of leaving millions of homeowners and small businesses unprotected." He goes on to say, "Had the program been allowed to expire, it would have resulted in no more new or renewed flood insurance policies and millions of consumers would have been left without flood insurance coverage."
A full story about the Big I's reaction to the extension and thoughts on potential outcome can be found on the Insurance Journal website.