National Flood Ins Extended To 2008
Tuesday, June 22nd, 2004 Catastrophe PropertyThe Property Casualty Insurers Association of America (PCI) commended federal lawmakers for reauthorizing of the National Flood Insurance Program (NFIP). The Senate passed the reauthorization on June 15 after making some minor changes in order to address the concerns of Senator Mary Landrieu (D-La.) about the definition of “repetitive loss property.” The House in turn passed the reauthorization on June 21. “This is a positive development for both the insurance industry and for consumers,” said Carl Parks, senior vice president of government relations. “Hurricane season officially began on June 1, and the summer is notorious for destructive flooding.
External References & Further Reading
http://www.pciaa.net/publish/web/webpress.nsf/eaab008f9ddd474f862569df0065e618/86256bf40081c83b86256eba006ebe0d?OpenDocument
