Flood Update: NFIP is Back in Business as FEMA Reverses Decision

    Posted by MAIA on December 31, 2018

    Believe it or not, the NFIP situation has changed AGAIN, and this time the news is good! After a tremendous amount of behind-the-scenes work and pressure from the insurance marketplace (largely organized by the Big “I”) and our allies in Congress, the National Flood Insurance Program (NFIP) is officially back in business, and agents can treat it as if it had never lapsed.
     
    If you’ve been occupied with the holidays and haven’t been following the flood saga, here’s how it has gone down in the past week or so:
    • First it looked as if the NFIP would lapse at midnight on December 21 when the government shut down.
    • Then, the program got a last-minute reprieve and was extended through May 31, 2019.
    • Next, FEMA overrode that extension because they lacked appropriations.
    • Finally, FEMA reversed its decision.
    The official word from David Maurstad, FEMA’s Deputy Associate Administrator for Insurance and Mitigation, is:
     
    “NFIP insurers may resume the sale, renewal, and monetary endorsements for flood insurance policies. Please treat the program as operational since December 21, 2018 without interruption.”
     
    As always, MAIA’s Number One Insurance Agency is here to answer your questions on flood insurance and other insurance markets. Contact Judy Carlson at jcarlson@massagent.com or (508) 634-7368 to learn more.

    Topics: Special Bulletin

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