Monday, December 5, 2022
HomeSubject AreaPolitical AdvocacyNationwide Flood Insurance coverage Program Prolonged

Nationwide Flood Insurance coverage Program Prolonged


On September 30, 2022, the President signed a seamless authorities funding decision that extends the Nationwide Flood Insurance coverage Program (NFIP) till December 16, 2022 amongst different measures.

The decision offers persevering with appropriations for federal businesses and extends a number of expiring packages and authorities. Its passage prevented a authorities shutdown that might in any other case happen.

“NFIP reauthorization is a chance for Congress to take daring steps to scale back the complexity of this system and strengthen the NFIP’s monetary framework in order that this system can proceed serving to people and communities take the crucial step of securing flood insurance coverage,” stated this system’s administrator, the Federal Emergency Administration Company, in an announcement.

NAR has ready a Often Requested Questions (FAQ) sheet about what NFIP reauthorization means for actual property transactions. Please discover the newest NFIP updates at https://www.nar.realtor/flood-insurance.



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