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What to Do If NFIP Lapses

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
May 22, 2012

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.

The NFIP has continued on short-term reauthorizations since its last long-term authorization, which expired in September 2008. The short-term extensions resulted in 53 days of temporary lapses in 2010. The NFIP was temporarily extended four times in 2011.

See FEMA guidance if NFIP expires: FEMA Guidance In Case NFIP Has Hiatus

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