As reported in our prior bulletins, the funding problems of the National Flood Insurance Program (NFIP) persist despite Hurricane Irene’s impact and the resulting flooding. The NFIP is currently scheduled to expire on 18 November 2011, following a short-term extension passed by the House of Representatives on 4 October 2011. The NFIP currently insures around US$1.35 trillion in property under approximately 5.6 million policies. Lawmakers have, as of yet, been unable to agree on long-term reform proposals for the NFIP. The House of Representatives passed an NFIP reform bill earlier this year but the Senate has not yet voted on its version of proposed reform measures. The recent short-term funding extension of the NFIP postpones root and branch reform for a rainy day.