The National Flood Insurance Program moved one step closer to an overhaul that one insurance industry official called a “meaningful long-term extension.”

With flood waters raging in the Mississippi River and the federal program, covering about 5.6 million properties set to expire Sept. 30, the U.S. House Financial Services Committee passed a bill calling for a five-year extension. The full House is expected to take up the bill in the near future.

The Flood Insurance Reform Act of 2011 will provide “much-needed improvements” to the program, which she called “an essential component” of protecting the homes and businesses of U.S. citizens th Full Post…

The National Flood Insurance Program moved one step closer to an overhaul that one insurance industry official called a “meaningful long-term extension.”

With flood waters raging in the Mississippi River and the federal program, covering about 5.6 million properties set to expire Sept. 30, the U.S. House Financial Services Committee passed a bill calling for a five-year extension. The full House is expected to take up the bill in the near future.

The Flood Insurance Reform Act of 2011 will provide “much-needed improvements” to the program, which she called “an essential component” of protecting the homes and businesses of U.S. citizens th Full Post…