NFIP reauthorization bill becomes law

10/3/2010 | PropertyCasualty360

President Barack Obama has signed into law a bill that reauthorizes the National Flood Insurance Program for almost one year, following a string of short-term extensions in 2010. Extending the NFIP has become a delicate political issue, because the program's debt amounts to more than $18 billion, said PCI President David Sampson. "While this bill was an important first step, Congress will still need to address meaningful NFIP reforms in 2011," he added.

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