Flood Insurance Expires - Again!
For the third time this year, Congress failed to fund the Flood Insurance and COBRA subsidies programs beyond their last temporary extension, and both programs have expired as of 12:01 am, June 1st. Congress is scheduled to return from its Memorial Day recess on June 7, and hopefully will work on a retroactive extension at that time.
In the case of flood insurance, the expiration means that there can be no new policies or renewals until an extension is passed. However, companies have been directed to pay all claims for policies in force. For a more detailed explanation of how flood funding works and what the insurance companies responsibilities are when it comes to writing flood insurance, visit our blog at http://blog.mylandlordinsurance.com
In the case of flood insurance, the expiration means that there can be no new policies or renewals until an extension is passed. However, companies have been directed to pay all claims for policies in force. For a more detailed explanation of how flood funding works and what the insurance companies responsibilities are when it comes to writing flood insurance, visit our blog at http://blog.mylandlordinsurance.com
Comments (2)
It would be nice if the Congressmen would forget about their annual payraises that they doo not even have to vote on! Perhaps they should even have to participate in social security and national health programs instead of having what they have above and beyond those they represent!
Dale Osborn, about 15 years ago
Donald- thanks for posting about this issue. I'd never heard of this before this month, and only because this is holding up the closing for one of my properties. Crazy.
Tom Bukacek, about 15 years ago