Tag: NFIP

National Flood Insurance Program reauthorization by White House to benefit home builders

Disability Insurance

Construction workers see a solid employment future with the signing of the bill. The National Flood Insurance Program’s (NFIP) signing by the White House has brought only good news to the National Association of Home Builders (NAHB) and its members, as they depend on that program for their jobs. The reauthorization of the program over the next five years and keep construction workers employed. The bill was signed with strong support from both Barbra Boxer, the Democratic leader, and Oklahoma Republican James Inhofe. According to President Obama, “This bill will…

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The National Flood Insurance Program will live to see another day

Disability Insurance

Congress votes to keep the NFIP, which provides 5.6 million people with coverage On Friday, Congress gave its approval to extend the National Flood Insurance Program by another 5 years, ensuring that 5.6 million people will be able to maintain their current coverage. The decision was made to help to keep the fragile housing market from additional harm. If Congress had chosen not to renew the program, the result could have been devastating to the housing market, as prospective homeowners in areas considered at risk of flooding would not be…

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Flood insurance law to be combined with Highway Bill

Nordstrom
Flood Insurance

Legislators seek to extend the life of NFIP by combining laws The U.S. House and Senate are currently working to finalize an agreement that would combine a number of legislations under the proposed Highway Bill. The bill was introduced as a way to solve some of the problems with the country’s transportation infrastructure – namely the country’s roadways. The bill has, for some time, been a point of contention amongst politicians for various reasons. Now, legislators are working to make the bill more attractive universally by combining legislation that would…

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Flood insurance premiums to spike for homeowners due to new legislation

S.Vagus
Flood Insurance and reinsurance

Senate debating legislation that would raise flood insurance rates through NFIP Those living in areas of the U.S. that are prone to floods may soon see a spike in their insurance premiums due to a new legislation currently being debated in the U.S. Senate. The legislations concerns the beleaguered National Flood Insurance Program (NFIP). For years, the program has been a source of affordable insurance coverage for homeowners in risk-prone areas of the country. This affordability has come at a cost for the program itself, however, which has taken the…

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Flood insurance program wins short-term extension

S.Vagus
Flood insurance

Lawmakers take action on NFIP ahead of hurricane season Federal legislators have taken action on the troubled National Flood Insurance Program (NFIP) this week, voting for a short-term extension for the program. NFIP has been plagued with financial woes for several years, after Hurricane Katrina dealt a destructive blow against the U.S. in 2005. The program accounts for the majority of flood insurance policies in the country and is often considered the best place for homeowners to find affordable coverage. Because of this, the program has acquired a massive number…

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