Congress' Failure on NFIP Endangers Carrier Participation

An official with the Federal Emergency Management Agency told insurance commissioners that Congress' failure at long-term renewal of the National Flood Insurance Program could jeopardize the participation of carriers in the program.

By Mark E. Ruquet | Updated on August 17, 2010

NU Online News Service

SEATTLE–An official with the Federal Emergency Management Agency (FEMA) told insurance commissioners that Congress’ failure at long-term renewal of the National Flood Insurance Program (NFIP) could jeopardize the participation of carriers in the program.

Addressing regulators here at the National Association of Insurance Commissioners’ (NAIC) summer meeting during a Catastrophe Insurance Working Group session on Monday, Edward Connor, acting federal insurance and mitigation administrator, said with the Sept. 30 deadline looming, he worries about what effect that will have on private company participation in the program.

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