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Cornerstone’s Joshua Butts Discusses Ramifications of National Flood Insurance Program Expiration

/ In the Media / By

Editor’s note: This story aired in June 2017. Congress has since extended the NFIP repeatedly, and FEMA’s Risk Rating 2.0 pricing methodology now governs flood premiums.

The National Flood Insurance Program (NFIP), operated by FEMA, was set to expire at the end of September 2017. The NFIP covers nearly 5 million homes across the country, with Florida historically accounting for the largest share of policies nationwide. What would happen if Congress chooses not to renew NFIP? “At the time, Cornerstone founder Joshua Butts warned a lapse could deal a serious blow to Florida’s economy,” says Joshua Butts of Cornerstone Insurance.

Florida flood insurance - flooding damage

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