Senate weighs NFIP extension that requires reinsurance

A proposal to extend the National Flood Insurance Program for 10
years, build in reinsurance authorisation and raises coverage
limits has emerged in the US Senate, which plans a hearing on the
programme next week.
The measure offered by Senators Bill Cassidy, a Louisiana
Republican, and Kristen Gillibrand, a Democrat from New York, would
keep the programme, known widely as NFIP, from expiring on 30
September, when its current authorisation expires.
The measure stipulates an annual cession of ris