The latest Commercial Risk Advisor newsletter examines potential NFIP changes during hurricane season, President Trump’s initial support of repealing the federal marijuana ban and a new study on commercial drone regulations.
Although hurricane season generally takes place between June and November each year, the National Flood Insurance Program (NFIP) that many businesses rely on for financial protection is set to expire on July 31. The extensive damage caused by major hurricanes in 2017 highlighted a number of issues with the program, and debate over potential reforms caused lawmakers to issue six short-term extensions to the NFIP since September 2017 instead of a comprehensive renewal.