Bloomberg Law
Nov. 26, 2018, 12:02 PM

Sea Change for Flood Insurance Unlikely as Time Running Out

David Schultz
David Schultz

The financially imperiled federal flood insurance program is days away from expiring, but the insurance industry and other advocates said they hold out little hope that Congress will solve the program’s problems anytime soon.

Congress has until Nov. 30 to extend the program and avoid a lapse that could destabilize real estate markets in coastal states, marking the seventh time in the last 12 months that the program has risked lapsing.

Coastal lawmakers have been at odds with fiscal conservatives over the program that for more than a decade has failed the original goal of covering its own costs.

The ...

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