NFIP Extension Act of 2026
This bill reauthorizes the National Flood Insurance Program (NFIP), which is administered under the National Flood Insurance Act of 1968. The NFIP provides federally-backed flood insurance to property owners, renters, and businesses in participating communities, as private insurers typically do not offer flood coverage. Reauthorization is necessary because the program operates under periodic extensions set by Congress. Without reauthorization, the program's authority to issue new policies and renew existing ones would expire, leaving property owners without access to flood insurance and potentially disrupting real estate transactions in flood-prone areas. The bill ensures continuity of the federal flood insurance program, which is critical for millions of Americans living in flood-risk zones. By extending the program's authorization, it maintains the availability of affordable flood insurance, supports disaster recovery efforts, and helps communities meet requirements for federal disaster assistance. The reauthorization also allows the program to continue collecting premiums and managing claims related to flood damage.
Key Points
- 1Extends the authorization of the National Flood Insurance Program beyond its current expiration date
- 2Maintains the federal government's ability to issue new flood insurance policies and renew existing ones
- 3Ensures continued access to flood insurance for homeowners, renters, and businesses in flood-prone areas
- 4Preserves the program's role in supporting mortgage lending in Special Flood Hazard Areas where flood insurance is required
- 5Allows the NFIP to continue its operations, including premium collection, claims processing, and floodplain management activities