National flood programme tops US insurers’ legislative agenda

The NFIP is set to expire on 30 September 2008, but insurers oppose a renewal bill that would add wind coverage

Renewal of the National Flood Insurance Programme (NFIP) is among the leading federal legislative priorities for insurers in 2008, according to a US insurance trade body. The Property Casualty Insurers Association of America (PCI), whose members write about 40% of the country’s property/casualty insurance, says it will also work to pass surplus lines and building codes legislation and to closely monitor developments on a variety of other natural catastrophe bills.