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RJ & Makay

Our view of news, events and human capital trends in the financial services industry.
Tags >> Flood Insurance Reform and Modernization Act

Senate passes legislation for federal flood program

Posted by RJ and Makay on Sep 09, 2011

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The Senate Committee on Banking and Urban Affairs yesterday passed its version of a bill to reauthorize and reform the financing of the National Flood Insurance Program (NFIP).  Largely as a result of Hurricane Katrina, the program is $18 billion in debt.  The new bill, the Flood Insurance Reform and Modernization Act, is designed to keep the program viable through 2016.