FEMA Extension of Grace Period

FEMA has released a memo regarding National Flood Insurance Program premiums in response to Hurricane Harvey.

“FEMA is extending the renewal grace period from 30 days to 120 days. This grace period extension applies to all policies in the affected counties with expiration dates on or between July 24, 2017 and September 22, 2017. An analysis of the number of contracts and policies expiring each day of the grace period shows that a maximum of 92,016 contracts and 97,120 policies could take advantage of this extended grace period, with a maximum deferred income from premiums and fees of $70,171,705.”

Read the full bulletin here: https://nfip-iservice.com/Stakeholder/pdf/bulletin/w-17029.pdf

 

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