NAR Support Letter to Full Senate Regarding S. 1182, the National Flood Insurance Program (NFIP) Extension Act

 

On July 26, 2018 NAR sent a letter to the full Senate. The letter urges support for S. 1182, the National Flood Insurance Program (NFIP) Extension Act, which would extend authorization for the NFIP through November 30, 2018. Without an immediate extension of authority, program operations will shut down at midnight on July 31st.

 

Five million American policyholders depend on the NFIP for necessary insurance coverage for flooding, the most common and costly natural disaster in the U.S. Congress must authorize the program to continue providing flood insurance in 22,000 communities nationwide. NAR research has consistently shown that each lapse costs up to 40,000 property sales per month.