Mark A. Hofmann

11/30/2018 8:56:00 AM

Source: Business Insurance

The U.S. House of Representatives and the Senate have voted to extend the National Flood Insurance Program through Dec. 7.

The heavily indebted program was slated to expire Friday, but late votes in both chambers on Thursday gave it a temporary reprieve. The Senate also approved a measure that would extend the program for six months, but the House has yet to move on a longer-term extension.

The program has been allowed to lapse briefly in the past, only to be reauthorized retroactively.