Last week Rep. Barney Frank (D-MA) introduced H.R. 3139 that would temporarily extend the National Flood Insurance Program (“NFIP”) for an additional six months to March 31, 2010.  The NFIP was temporarily extended through September 30, 2009 as part of the omnibus appropriations bill signed into law by President Obama on March 11.

H.R. 3139 does not include any reforms to the NFIP as proposed by the House and Senate in recent years, as reported here, here and here, or any of the reforms supported by the Obama Administration, as reported here.  In addition, H.R. 3139 does not expand the NFIP to cover windstorm damage as proposed by H.R. 1264 that was introduced by Rep. Gene Taylor (D-Miss.) in March, as previously reported here.

For a copy of H.R. 3139, click here.

We will continue to monitor NFIP-related developments and provide updates at InsureReinsure.com.