Last week we wrote about the National Flood Insurance Program expiring at the end of March.
Good news! Congress took action yesterday to reauthorize the program. The program reauthorization was made retroactive to March 28, 2010 so all transactions keyed during the program suspension period will be completed as requested.
During the suspension, renewal offers on flood insurance were not allowed to be mailed out to policyholders, but now that the program is back in place, renewals will be mailed out with their original renewal dates (even though the notification times will be shorter).
If you have questions about this program, contact your insurance professional.