Congress urged to extend NFIP borrowing limit

11/15/2005 | PropertyCasualty360

An agents group is pressing Congress to fast track a bill to extend the borrowing authority of the National Flood Insurance Program, which has suspended insurance agents' authority to assess damages and make payments to Gulf Coast hurricane flood victims. "We asked Congress to take this matter up as expeditiously as possible, so that the NFIP can extend a line of credit to Write-Your-Own companies for the payment of claims," said a senior vice president with the Independent Insurance Agents and Brokers of America.

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