What happens if the NFIP lapses tomorrow?
The National Flood Insurance Program will lapse tomorrow, Tuesday, July 31st. But what actually happens if the program expires? Currently, the program provides over 5 million policies totaling roughly $1.28 trillion in coverage, and there is no ‘sunset provision’ involved if the program lapses. The NFIP has been extended more than 25 times since 2008,…