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PIA Applauds Passage of One-Year NFIP Extension

WASHINGTON, Friday, September 24, 2010 - The National Association of Professional Insurance Agents (PIA) is applauding passage of a one-year extension of the...
September 24, 2010

WASHINGTON, Friday, September 24, 2010  - The National Association of Professional Insurance Agents (PIA) is applauding passage of a one-year extension of the National Flood Insurance Program (NFIP). On Thursday September 23, the House of Representatives joined the Senate in passing S. 3814, which will extend the NFIP until September 30, 2011. President Obama is expected to sign the bill.

The one-year extension means Congress will avert another lapse in the flood insurance program. There were four program lapses in the past year as Congress approved extensions of only months or weeks, then failed repeatedly to act in time to avert interruptions in the program. Had S. 3814 not passed, the next expiration could have occurred as early as September 30 of this year.

"PIA applauds the House for following the Senate in passing S. 3814, extending the NFIP to September 30, 2011," said PIA Director of Federal Affairs Mike Becker. "This extension means that property owners across the country who need flood insurance coverage will continue to be able to obtain it while the NFIP reform process proceeds."

PIA had urged Congress to pass an interim NFIP extension of sufficient length to avoid additional interruptions in the program and that allows sufficient time for hearings to be held.

"While we're grateful for this critical extension, much work remains to be done in order to improve the NFIP for the benefit of consumers," Becker said. "Local communities, states and the federal government all have a stake in making the flood insurance program work better for property owners and our nation's economy. PIA remains committed to continuing to work with the key members of Congress tasked with addressing NFIP reforms."

PIA supports H.R. 5114, the Flood Insurance Reform and Priorities Act of 2010, which has already been passed overwhelmingly on a bipartisan basis in the House. H.R. 5114 extends the program for a full five years and makes key substantive reforms.

Founded in 1931, PIA is a national trade association that represents member insurance agents and their employees who sell and service all kinds of insurance, but specialize in coverage of automobiles, homes and businesses. PIA members are Local Agents Serving Main Street America SM. PIA's web address is www.pianet.com.

 

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