FLOOD INSURANCE PROGRAM

This position paper calls for the long-term reform and reauthorization of the National Flood Insurance Program (NFIP). It argues that the current pattern of short-term reauthorizations creates market volatility—halting policy renewals and disrupting the housing market, with estimates suggesting a one-month lapse costs 40,000 property sales. The paper also addresses continuous coverage rules for policyholders who switch between private flood insurance and NFIP coverage, and urges Congress to modernize the program and encourage private market participation.