The Federal Emergency Management Agency (FEMA) has issued a guidance memo to WYO carriers and agents, in the event that the National Flood Insurance Program (NFIP) slips into hiatus on May 31 due to inaction by Congress. The NFIP’s authority to issue new policies, issue increased coverage on existing policies, and issue renewal policies will expire at midnight on May 31, 2012, unless Congress passes a reauthorization.

See FEMA's Guidance in case of a NFIP lapse: WYO Program Bulletin W-12032 (FEMA/NFIP 4/25/2012)