PIA Statement on NFIP Extension to Sept. 30, 2021 in Federal Funding BillSeptember 23, 2020
WASHINGTON – The National Association of Professional Insurance Agents (PIA National) is praising the House for including a year-long extension of the National Flood Insurance Program in its FY 21 continuing resolution.
The U.S. House voted 359-57 (with one member voting present) on the evening of September 22nd to pass the continuing resolution (CR) legislation to fund the federal government to December 11th. Notably for PIA members and consumers, the CR includes an extension of the National Flood Insurance Program (NFIP) until next year, to September 30th, 2021. The program is set to expire next week on September 30th.
“PIA National thanks the House for including a year-long extension of the National Flood Insurance Program in the continuing resolution,” said Jon Gentile, vice president of government relations at PIA National. “PIA National has been working throughout the summer with policymakers on extending the NFIP for as long as possible. This is particularly important given that 2020 has been one of the busiest hurricane seasons on record. Now is not the time for policyholders to be uncertain about their flood coverage,” Gentile said.
PIA National is urging the Senate to pass the CR and for the president to sign it into law as soon as possible to avoid a lapse of the NFIP next week, which is scheduled to expire at midnight on September 30.
The history of NFIP extensions has been messy. The program was extended 17 times between 2008 and 2012, when the previous five-year reauthorization was signed into law. Currently, the NFIP is on its 15th short-term extension since Sept. 2017. The NFIP lapsed briefly three times in 2018 alone; unfortunately, even short lapses can have a negative effect on consumers.
“We urge the Senate to pass the CR as soon as possible. Once it is signed into law, Congress will have a year to work toward a long-term NFIP reauthorization. This will give a new Congress the time it needs to act on important reforms that PIA National has helped develop. We strongly support the NFIP reauthorization package that passed the House Financial Services Committee in 2019 as the right framework for reform and long-term reauthorization.”
Founded in 1931, PIA is a national trade association that represents member insurance agents and their employees who sell and service all kinds of insurance, but specialize in coverage of automobiles, homes and businesses. PIA’s web address is www.pianet.com.