Federal Flood Insurance Up for Vote Again

Insurers are urging the House of Representatives to pass legislation today that would extend the National Flood Insurance Program (NFIP) for five years. The measure, HR 5114, the "Flood Insurance Reform and Priorities Act of 2010," is expected to be voted upon later this afternoon. This year alone, Republicans has allowed the NFIP to lapse three times. During these lapses, new flood insurance policies could not be written, leaving homeowners vulnerable and delaying thousands of real estate transactions per day in flood-prone regions.
Source: Insurance Journal
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