Flood Program Restarted
Insurance companies resumed processing federal flood insurance applications last month after President George Bush signed a bill that reauthorizes the National Flood Insurance Program for one year.
The bill (H.R. 11) retroactively reauthorizes the NFIP to Dec. 31, when the Federal Emergency Management Agency's authority to issue flood insurance policies lapsed due to a congressional oversight.
But the House and Senate quickly corrected this oversight by passing H.R. 11 during the first week of the new Congress and the president signed the bill on January 13 of this year.
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