NFIP IS REAUTHORISED THROUGH MAY AND WILL RESUME NORMAL SALES

President Donald Trump has signed into law a bill that reauthorises the National Flood Insurance through May 31. Without the reauthorisation, the NFIP would have expired at midnight on December 21. Last week, the Federal Emergency Management Agency, which oversees the programme, said policies in force before the expiration deadline will remain in force and claims will be paid. FEMA had also said that during the ongoing partial shutdown of the federal government the NFIP would have “limited ability” to issue new policies, increase coverage on existing policies and issue renewals. However, under pressure from lawmakers and business groups, the agency reversed itself later in the week and said that the NFIP would resume normal sales of new and renewal policies.