PIA Praises NFIP Relief in Disaster BillOctober 31, 2017
President Donald Trump signed into law a $36.5 billion disaster aid bill that contains $16 billion in debt forgiveness for the National Flood Insurance Program. The relief package, which includes funds for recovery from hurricanes Harvey, Irma, and Maria, was approved by the House on October 12. The package, H.R. 2266, was passed in the Senate on October 24.
PIA issued a statement praising the NFIP debt forgiveness, which will allow the NFIP to continue to pay claims, as it had already reached its borrowing limit. PIA is continuing to work with Congress to provide a long-term reauthorization of the NFIP that recognizes the vital role independent insurance agents play in delivering the program to policyholders. Authorization for the flood insurance program is currently set to expire on December 8.