On July 14, NAR, in coalition with other commercial real estate trade groups, sent a letter to the Senate Committee on Banking, Housing, & Urban Affairs, providing them with a list of ways the National Flood Insurance Program (NFIP) can be improved to be more responsive and effective for commercial real estate. The Senate Banking Committee is currently working on drafting reauthorizing legislation for the NFIP, which is set to expire on September 30.
The letter asks for six things:
- Maintain the commercial "opt-out" provision, as passed by... Read More
