President Obama Signs Long-Term Reauthorization of the National Flood Insurance Program
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National Flood Insurance Program Update
On July 6, President Barack Obama signed the Flood Insurance Reform Act of 2012 to reauthorize the National Flood Insurance Program (NFIP) for five years and make significant reforms to the program. The bill was part of a larger Conference Report that included the surface transportation programs reauthorization and student loan interest rate agreement.
PCI applauds Congress and President Obama for making flood insurance a top priority. This victory marks the end of a tumultuous journey for the NFIP, which had been caught in a cycle of short-term extensions since 2004 and was set to expire on July 31, 2012. This legislation will bring much needed certainty to flood-prone communities and greater stability for the housing market.
American Action Forum: Rebuilding our Nation's Flood Insurance Program
H.R. 1309, the "Flood Insurance
Reform Act of 2011"
Insurance (NFIP): The Need for Long-Term Solutions
PCI News Releases
PCI Hails Congress for Passing 5-Year Flood Insurance Reauthorization and Reform Measure
| June 29, 2012
PCI Pushes for Long-Term Reauthorization Legislation
| May 30, 2012
PCI Applauds House Action on Flood Insurance Program
| May 18, 2012
PCI Commends Senate for Urging NFIP Long-Term Reauthorization
| February 14, 2012
PCI White Paper: True
Market-Risk Rates for Flood Insurance
| June 2011
What is NFIP?