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It’s that time of year again, when the NFIP that should have been renewed is about to expire. We see this happen repeatedly, and eventually it gets renewed for a bit only to have the same thing happen a year or two later. So what happens to coverages?

FEMA has issued guidance so companies know how to proceed. The plan will have a lapse in authority, which means the WYO companies may not issue policies for new or renewal business, or increase or add coverage to existing policies.

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