Borrowing limit on National Flood Insurance Program raised by congress

January 7, 2013January 25, 2014 Dan

The National Association of Professional Insurance Agents (PIA) applaud the congressional action taken on January 4, 2013 to raise the borrowing limit for the NFIP, sending relief to badly damaged areas of the northeast still suffering after hurricane Sandy. A hearing on funding to help flood relief victims was scheduled for January 1, but was canceled by Speaker John Boehner (R-OH) just moments after the so-called fiscal cliff deal was approved by the House of Representatives. Lawmakers and politicians in the northeast protested, most notably Gov. Chris Christie (R-NJ) and…

National Flood Insurance Program may not withstand assault from Hurricane Sandy

November 14, 2012November 13, 2012 S.Vagus

National Flood Insurance Program braces for massive impact from claims Hurricane Sandy has brought many issues to light in the U.S., especially those concerning climate change and the country’s energy grid. Amidst the turmoil the storm has caused, federal officials have begun evaluating ways to improve the country’s defenses against natural disasters. At its peak, Hurricane Sandy was a Category 2 storm, but dwindles to a Category 1 and tropical storm status by the time it reached the northeastern states. Despite the storm’s weakening presence, it still managed to produce…