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Posted in Regulatory and legislative updates, USA

US: Temporary extension of the NFIP in wake of Hurricane Harvey

On September 8th, just days after Hurricane Harvey decimated the Houston metropolitan area, and while many Florida residents were evacuating as Hurricane Irma approached, President Trump signed into law the Continuing Appropriations Act, 2018. Among other things, the Act appropriates disaster funds to the Federal Emergency Management Agency (“FEMA”) and temporarily extends the National Flood Insurance Program (“NFIP”), which was set to expire on September 30th, to December 8, 2017. Although the Act provides some much-needed relief in the short term, Congress has yet to reach consensus on a clear path forward for NFIP reform.

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