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    In Reversal, Flood Insurance Program Resumes Normal Operations During Shutdown

    Posted by Soules Insurance on Wed, Jan 2, 2019

    Last Friday evening, the Federal Emergency Management Agency (FEMA) announced that the National Flood Insurance Program (NFIP) will resume the normal sale of new insurance policies and the renewal of expiring policies.

    This order rescinded an earlier decision that halted sales operations by the NFIP because of the current government shutdown and lapse in appropriations.

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    Tags: NFIP, FEMA, National Flood Insurance Program, Congress has re-authorized NFIP, Government Shutdown, Government Shutdown 2018

    Government Funding Lapse Affects Issuance of NFIP Flood Policy Transactions

    Posted by Soules Insurance on Fri, Dec 28, 2018

    Despite Congressional approval for NFIP Re-authorization extended through May 31st, 2019, the partial government shutdown has prompted FEMA to suspend all transactions on the sale or renewal of flood insurance policies backed by the National Flood Insurance Program.

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    Tags: flood insurance, Flood, Flooding, NFIP, Flood Insurance Coverage, National Flood Insurance Program, Prepare for flooding, Government Shutdown, Policy Renewal

    News Update - National Flood Insurance Program Re-authorized through May 31, 2019

    Posted by Soules Insurance on Wed, Dec 26, 2018

    As of Friday, December 21st, Congress has re-authorized NFIP until May 31, 2019.  The President is expected to sign the reauthorizing legislation.

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    Tags: flood insurance, Flood Damage, Floods, Flooding, NFIP, Flood Insurance Coverage, FEMA, Flood Reform, National Flood Insurance Program, Federal Emergency Management Agency, Lapse, Flood Insurance Program Reinstated, Congress has re-authorized NFIP, National Flood Insurance Program Re-authorized

    Breaking News - Important NFIP Reauthorization Update

    Posted by Soules Insurance on Fri, Dec 21, 2018

    As of Friday, December 21 Congress has not yet acted to reauthorize the National Flood Insurance Program. The NFIP authority is set to expire tonight at 11:59 pm. Should reauthorization not occur prior to 11:59 pm tonight, the program will fall into a lapse period. 

    Congress must now reauthorize the NFIP by no later than 11:59 pm on Dec. 21, 2018. 

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    Tags: flood insurance, Flood Damage, Floods, Flooding, NFIP, Flood Insurance Coverage, FEMA, Flood Reform, National Flood Insurance Program, Federal Emergency Management Agency, Lapse

    House Passes The 21st Century Flood Reform Act - What's in it?

    Posted by Soules Insurance on Fri, Nov 17, 2017

     

    On Nov. 14, the U.S. House of Representatives passed the 21st Century Flood Reform Act (H.R. 2874) to address the issue of the cost of repeatedly flooded properties draining the National Flood Insurance Program (NFIP), which is already in significant debt.

    There are five sections to the bill: policyholder protection and information, increasing consumer choice through private market development, mapping fairness, protecting consumers and individuals through improved mitigation, and program integrity. Here are the highlights of each section:

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    Tags: Flood, NFIP, 21st Century Flood Reform Act, H.R. 2874, Flood Reform, Flood Reform Act, National Flood Insurance Program