Flood Insurance and the NFIP — A Senate Bill Wants an Extension into 2026

Louisiana Senators, and Republicans, Sen. Bill Cassidy and Sen. John Kennedy have introduced a bill in the senate to extend the National Flood Insurance Program (NFIP) to December 31, 2026.

If passed, it will be the first long-term extension of the NFIP in over a decade. In the last 10 years, the NFIP has seen 32 short-term extensions. Cassidy says the short-term extensions are crippling the ability of the NFIP to protect its 4.7 million policyholders.

“The purpose of an insurance program is to provide certainty. Renewing every two months is not that,” Cassidy said. We need to make flood insurance affordable again — and I will keep working to do that.”

Cassidy and Kennedy have been very critical of the the NFIP’s Risk Rating 2.0 implementation a couple of years ago. They say it has caused unfair rate hikes in some cases.

Source link: Insurance Business America — https://bit.ly/4bXojYS

Source link: Louisiana News — https://bit.ly/3FEatPa