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Political Squabbling Could Lead to a Lapse in Flood Insurance

By December 17, 2017June 9th, 2020Flood
On December 7th the US Congress passed a funding bill that extended government operations until December 22nd. This bill included funding of the National Flood Insurance Program (NFIP) which was set to lapse on December 8th.
The bill, passed the House with a 235 to 193 vote and the Senate with an 81 to 14 vote. The extension allowed Congress another 2 weeks to work on terms for a long-term funding bill.
Unfortunately, Republicans and Democrats don’t agree on the terms of funding or many of the tax reforms pushed by the Republican majority. Therefore, the threat of a lapse in flood insurance is real and looming.


NFIP Lapse Issues

· No company may issue policies for new business
· No company may increase or add coverage
· No company can renew policies already in effect
If there is a lapse it would create havoc for Pinellas County’s real estate market. Without the ability to buy flood insurance through the NFIP, lenders will most likely halt financing. This could cause instability in our market which is just now stabilizing after a slow down created by Hurricane Irma.
We encourage all our policyholders to reach out to their local Congress men and women to push for long term NFIP funding.
Please stay in touch with the Insurance Resources team. We will be updating our blog and social media outlets as this critical week approaches.
If you have any questions, please contact Brian T. Ford, CPCU at 727-345-0242 or via email at