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Stick with me … this just got interesting.

Short version:  The National Flood Insurance Program (NFIP) is working, but crippled.

It can’t issue new policies or renew existing ones.

Despite the government shut-down, the NFIP got re-authorized for another 6 months. However, despite this reauthorization, the Federal Emergency Management Agency has issued guidance that, “due to the current government shutdown, they will be unable to issue new policies, nor renew existing policies.” I’m not even going to try to unravel that; they just got re-authorization but it doesn’t do what it’s designed to do?

Regardless, it’s not disastrous news for us or for you.  We will immediately start re-marketing all of our flood insurance policies written through the NFIP to private market insurers.  If you are affected by this don’t hesitate to contact us.

We’ve been rooting for a long, controlled end to the taxpayer-subsidized and perpetually unprofitable NFIP for a long time.   As it is with almost every other industry, the private sector does it better.

Maybe health insurance will be next.