US SENATE PASSES BILL THAT INCLUDES SIX-MONTH EXTENSION OF NFIP

The US Senate last week approved its version of a farm bill that would extend federal crop insurance subsidies for five years and extend the National Flood Insurance Program for six months to prevent it from expiring in the middle of the 2018 hurricane season. The Senate and House bills are now slated to go to a conference committee to smooth out differences. The Independent Insurance Agents & Brokers of America welcomed the Senate bill’s inclusion of the crop insurance provision, as more than 12,000 agents assist US farmers in obtaining crop coverage annually.