FEMA Resumes Funding of Flood Insurance Program During Government Shutdown

Filed in Capitol Hill by on December 28, 2018 0 Comments

sandbagsAfter the partial government shutdown threatened the funding of the National Flood Insurance Program (NFIP), FEMA announced tonight that NFIP insurers “may resume the sale, renewal, and monetary endorsements for flood insurance policies” effective since the program’s funding was renewed by Congress on Dec. 21.

NAHB worked diligently to resolve the funding issue after FEMA abruptly announced on Wednesday that NFIP insurers and insurance agents could not sell or renew flood insurance policies backed by the program because of a lack of government funding due to the shutdown.

This is an important victory for NAHB members after lawmakers agreed last week to extend NFIP funding through May 31, 2019.

Congress requires all properties within the 100-year floodplain that are purchased with a federally backed mortgage to carry flood insurance. So it is essential that authorization for the program does not lapse.

NAHB continues to work with Congress to achieve a long-term reauthorization of the NFIP that will keep the program fiscally sound and let builders provide safe and affordable housing.

For more information, contact Jessica Hall at 800-368-5242 x8253.

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