Flood insurance approval for $9.7 billion in claims from U.S. Congress

Flood Insurance

The final congressional nod was achieved when the Senate passed the bill on Friday. The new United States Senate has now passed a bill for $9.7 billion which has brought about the final approval of Congress to assist in the payment of flood insurance claims for businesses, homeowners, and renters whose properties were damaged by Superstorm Sandy when it hit at the end of October 2012. This has replenished the funds for NFIP, which were reaching urgently low levels. The National Flood Insurance Program (NFIP) was predicted to run dry…

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