|  UPDATE: President Biden signed the bill into law on Dec. 29, 2022.
An omnibus spending plan approved
by Congress today includes a nine-month re-authorization of the
National Flood Insurance Program (NFIP.) President Joseph R. Biden, Jr.
has pledged to sign the measure, which sets federal government appropriations for
the 2023 fiscal year. The reauthorization means that you will be able
to obtain new and renewal flood insurance policies through the program
without interruption. Congress has authorized the NFIP on a
temporary basis since its inception in 1968. Its most recent
authorization was due to expire at the end of the day December 23 when
appropriations for the federal government were also to run out. The
newly enacted bill will keep the government and the flood program
running for the rest of the 2023 fiscal year, which ends on September
30, 2023. Those of you who obtain flood coverage for your clients through the Big I Flood Program will be able to continue to do so at least until next autumn.
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