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flood insurance coverageCNBC
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86% Informative
Congress has until Sept. 30 to reauthorize the National Flood Insurance Program .
The public insurance program insures 4.7 million policyholders and protects more than $1.28 trillion in assets.
"Without an [NFIP] extension, you're not going to be able to get a mortgage in any area that requires flood insurance," analyst says.
Critics often point to policy pricing as a concern.
Until recently, the NFIP had a reputation as being a subsidized insurance program.
FEMA implemented Risk Rating 2.0 in 2021 , a new pricing system that would accurately reflect the cost of an area's risk.
Sen. Bill Cassidy , R- La. , has urged Congress to improve the program.
VR Score
88
Informative language
87
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