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Friday, September 24, 2010

National Flood Insurance Program extension approved

WASHINGTON—The House of Representatives Thursday on a voice vote gave final approval to legislation to extend the National Flood Insurance Program for one year through Sept. 30, 2011.

The Senate approved the measure, S. 3814, this week.

Without congressional action, the NFIP, which has been temporarily extended several times during the past year, would have expired Sept. 30.

“A long-term extension of the NFIP has been the goal of the insurance industry all year, and we’re pleased that it now heads to the president for his signature,” an American Insurance Assn. spokesman in Washington said in statement.

President Barack Obama is expected to sign the measure shortly.

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