FEMA reverses decision to stop issuing new flood insurance policies By Reuters

0
282
Investors pull most cash from U.S. Treasury funds since March 2016: Lipper


FEMA reverses decision to stop issuing new flood insurance policies

WASHINGTON (Reuters) – The Federal Emergency Management Agency (FEMA) said on Friday it will resume issuing new flood insurance policies during the partial U.S. government shutdown, reversing a decision announced two days ago.

FEMA, which oversees the National Flood Insurance Program, said it was rescinding guidance issued on Wednesday that it would not be able to sell new policies during the shutdown unless Congress passes legislation reauthorizing the program.

“As of this evening, all NFIP insurers have been directed to resume normal operations immediately and advised that the program will be considered operational since December 21, 2018, without interruption,” FEMA said on its website.

The National Association of Realtors estimated the decision not to issue new policies could have disrupted up to 40,000 home sales each month.

The flood insurance program insures about 5 million homes and businesses.

The federal government has been partially shut down since Dec. 22 because of an impasse over President Donald Trump’s demand for $5 billion in taxpayer funding for a proposed border wall.

Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.





Source link

LEAVE A REPLY

Please enter your comment!
Please enter your name here