As part of the just passed federal spending package, Congress extended the National Flood Insurance Program (NFIP) for nine-months to September 30th of this year. It — PIA National notes — is the 15th time the program has been extended since it expired in 2017.
PIA National Vice President of Government Relations Jon Gentile said the association is happy — but also unhappy — with the extension. It needs to be more permanent instead of just a few months.
“While it's disappointing that the program will again be extended on only a short-term basis, PIA is hopeful that the nine-month reauthorization will provide us with more time to work with Congress to ensure the ultimate passage of a robust long-term reauthorization that includes needed reforms,” Gentile said. “Such a bill already exists and has advanced on a bipartisan basis in the House.”
The bill he is referring to was passed in June of last year on a bipartisan and unanimous vote by the House Financial Services Committee.
“Notably for PIA members, this bipartisan reauthorization did not include a provision that would lead to a cut in agent commissions,” Gentile said. “PIA members may recall that a deal in 2017 that included such a cut was rejected by PIA National, the only agent association to take such a stand. We were pleased the 2019 House NFIP legislation did not include such a provision, and this was largely due to the intensive lobbying efforts by PIA National and PIA members around the country.”
The Senate bill has no provision, does not protect agent commissions and PIA is in opposition to that bill.
Source link: PIA National