PIA Applauds Senate for Approving NFIP Debt Relief

WASHINGTON, Oct. 25 -- The National Association of Professional Insurance Agents issued the following news release:

The National Association of Professional Insurance Agents (PIA) applauds the U.S. Senate for passing and sending to the president on October 24 a $36.5 billion disaster aid package that includes $16 billion for debt forgiveness for the National Flood Insurance Program (NFIP). The package (H.R. 2266) was approved by the House on October 12.

The $16 billion in debt forgiveness for the NFIP will allow it to continue to pay claims arising out of hurricanes Harvey, Irma, and Maria, as it had already reached its borrowing limit.

PIA is continuing to work with Congress to provide a long-term reauthorization of the NFIP that recognizes the vital role independent insurance agents play in delivering the program to policyholders. The authorization for the flood insurance program is currently set to expire on December 8.